Berenberg Bank deploys SimCorp Dimension; Swedbank rolls out Imex 6.3

Source: SimCorp Dimension

Berenberg Bank will in the future be supported by SimCorp Dimension for its service offerings within asset management.

The Hamburg-based private bank will use SimCorp Dimension in its core business area of asset management. The software will support the growth of Berenberg Bank by automating a number of business tasks.

"SimCorp Dimension has convinced us," says Beate Gerdes, Berenberg Bank's director for institutional asset management. "This software allows us to implement current and future investment ideas fast and flexibly, so that we feel well-positioned for further growth."

"We are very pleased that with Berenberg Bank we could acquire one of the leading German Private Banks for SimCorp Dimension," explains Jochen Müller, managing director of SimCorp GmbH. "Besides the best possible support of the investment processes, the key factor was the software's openness, securing an efficient integration in the current IT infrastructure of Berenberg Bank."

Separately, Surecomp, a leading provider of integrated trade finance and factoring solutions for the banking and financial market, announced today that Stockholm-headquartered Swedbank has licensed IMEX V6.3 on the mainframe platform. Swedbank will use IMEX to drive greater efficiency and streamlining in its regional trade finance activities.

Swedbank, known as FöreningsSparbanken in Sweden, is Sweden's fourth largest banking group and ranked amongst the top 150 banks worldwide. Swedbank successfully implemented NetIMEX, Surecomp's Internet-based trade finance customer front end, last year.

Johan A. Engstrom, Swedbank Senior Vice President and Head of IT Strategy and Processes explains the thinking behind the Bank's decision to license the latest version of IMEX: "Success in the trade finance business is simply survival of the fittest. A low cost base and a plan to aggressively drive down costs are key survival strategies. Being in the enviable position of offering our customers a paperless STP front-to-back trade finance solution is an integral just part of the equation. Swedbank will now be able to harness the intuitituitiveness, flexibility and rich functionally of IMEX V6.3."

"The relationship we have with our vendors is no-less important than that we have with our customers. Both are based on a partnership and confidence in the other. In Surecomp we have the professional partner to help us meet and beat our trade finance goals," concluded Johan A. Engstrom.

Yuval Karp, Surecomp's Chief Operating Officer (COO), Trade Finance Solutions commented: "We are naturally delighted by the vote of confidence given Surecomp by Swedbank. Working with Swedbank has been a pleasurable experience and we look forward to continuing to work with the Bank in helping them profitably control and manage their trade finance operations for many years to come."

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