SimCorp sets up in Luxembourg
02 July 2009 | 1191 views | 0
SimCorp, leading supplier of highly specialised software and know-how for the financial sector announces that it launches enterprise solution SimCorp Dimension to the Luxembourg market.
In the wake of the crisis, a new reality has emerged in the financial industry that has forced many participants to search for solutions to improve operational efficiency and sustain lower cost levels without sacrificing business flexibility and scalability. Also, new regulation will pose new requirements on the industry.
SimCorp's front-to-back enterprise system, SimCorp Dimension, is an integrated, automated, single-database solution that can meet the requirements in the market by offering sustainable cost reduction, holistic risk mitigation and a scalable platform enabling growth. SimCorp Dimension's IT infrastructure reduces the risks inherent in maintaining internal interfaces and labour intensive reconciliation processes between different internal systems, and its transparent architecture significantly reduces risk associated with counterparties, major defaults and governance.
"Financial institutions need to act in today's financial markets in the secure knowledge that their operations are backed up by a software solution equipped to meet post-crisis requirements," says Troels P. Jensen, managing director of SimCorp Benelux. "SimCorp and SimCorp Dimension can help them meet and overcome these challenges."
Financial institutions are under pressure, both from regulators and clients, to improve efficiency. Introducing SimCorp Dimension to Luxembourg, one of the largest financial markets in the world, will enable SimCorp to support the Luxembourg fund industry in meeting the challenges they are facing. Current SimCorp Dimension clients in Luxembourg include Nomura Bank and Nordea, among others.