The Securities Companies enterprise of BNP Paribas, a world multi-asset servicing specialist with EUR 10.8 trillion in property underneath custody and EUR 2.3 trillion in property underneath administration, has expanded its strategic partnership with SimCorp, a supplier of SaaS funding administration options, so as “to supply insurance coverage accounting and reporting options built-in with its custodian and banking companies.”
This collaboration “leverages SimCorp’s new SaaS options for funding operations and accounting companies, and is constructed on the businesses’ longstanding partnership, which incorporates the usage of SimCorp Dimension throughout Securities Companies’ front-to-back funding worth chain.”
Widespread shoppers will “profit from the mixed experience of a number one international custodian and a fast-growing tech-enabled companies supplier.” SimCorp reportedly “has over 50 years of experience inside funding accounting throughout a number of jurisdictions and multi-asset lessons, offering a powerful international trade presence underpinned by native experience.”
Each corporations “have strengthened their connectivity and repair integration to broaden the vary of companies delivered to asset proprietor shoppers.”
SimCorp’s Asset Service Hub will “present strong knowledge interoperability between BNP Paribas’ suite of banking actions and SimCorp’s accounting platform and Funding Accounting Companies.” Institutional shoppers will thereby “expertise a quicker and smoother onboarding course of with normal protocols confirmed with dwell shoppers.”
Jochen Müller, Govt Vice President and Managing Director, Operations and Accounting Companies at SimCorp, stated:
“We’re delighted to strengthen our confirmed partnership with the BNP Paribas group by implementing SimCorp’s operations and funding accounting companies. SimCorp’s expertise inside funding accounting companies is trusted by various main international asset house owners, and we’re proud to now construct on our partnership with BNP Paribas by increasing our settlement to this space. It is a true testomony to the success of our corporations’ collaboration over 10 years, which we stay up for persevering with within the coming years.”
Arnaud Claudon, Head of the Shopper Line Asset Supervisor and Asset House owners, Securities Companies, at BNP Paribas additional feedback:
“This expanded collaboration with SimCorp delivers a compelling mixed worth proposition to asset house owners. We’re thrilled to supply such progressive service integration between two trade main suppliers for the advantage of our widespread shoppers, strengthening our place as a number one international custodian.”
Rethinking and optimizing service fashions follows a rising trade development inside institutional investing, wherein corporations “are more and more concentrating non-core operations with specialised suppliers as a way to focus extra on value-adding actions.”
SimCorp and BNP Paribas presently “have three widespread shoppers dwell with the service, and the 2 companions will leverage the most effective practices acquired to streamline the framework for additional onboarding of future shoppers.”
