SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that it has signed a license agreement with Belfius, a large banking and insurance group fully owned by the Belgian federal state.
Belfius is among the top four leading banks in Belgium and serves approximately 3.5 million customers, offering commercial activities in three main fields: retail and commercial banking, the public and corporate sector, financial services and insurance.
Belfius has selected SimCorp Dimension to support its front and middle office activities, including investment book of record (IBOR), trading, order and portfolio management, compliance, performance, and risk, across a wide range of asset classes.
Mr. Dirk Smet, General Manager Privilege-, Private- & Business Clients at Belfius comments: "We have chosen SimCorp Dimension because we see it as the best solution to provide the level of automation, flexibility and functional coverage we need. The system will enable us to operate more efficiently and ease our regulatory compliance efforts going forward. Ultimately, this is a strategic choice that will bring further value to our clients."
Hans Otto Engkilde, Managing Director, SimCorp Benelux comments: "For a financial institution like Belfius to realize an ambitious strategy while also coping effectively with regulatory and market demands, a modern investment management system is a must. This is the second new client we get in Belgium in the last six months, and we are very happy to welcome Belfius to our client community."