The Bank of New York Mellon Corporation (“BNY Mellon”) and SimCorp today announced a collaboration that connects BNY Mellon’s range of custody capabilities—including settlement, safekeeping, and cash and securities services—with SimCorp’s integrated front-to-back investment management system, SimCorp Dimension.
The new connectivity provides mutual clients globally with enhanced operational efficiency and transparency in core investment processes, more efficient enterprise risk management, and increased speed to market for on-boarding.
BNY Mellon and SimCorp will pursue a shared roadmap to deliver an open and integrated operating model, with enhanced custody information and improved operational efficiencies. Clients of both BNY Mellon and SimCorp will benefit from streamlined system-to-system data flows and optimized data sets across the investment lifecycle, which can be easily leveraged for greater visibility into transactions and positions.
The partnership aims to accelerate the optimization of typically manual investment workflows, such as settlement management, which continue to burden investment managers and asset owners. By delivering enhanced automation, the solution will lead to higher reconciliation match rates. This allows portfolio managers, operations teams and risk professionals across the buy-side to gain sharpened insights into the deployment of cash and securities. Additionally, increased transparency and faster availability of corporate actions and tax reclaim data will drive more informed investment decision-making.
“Our collaboration with SimCorp offers significant opportunities for clients around the globe to improve their performance through enhanced data flows and to eliminate inefficiencies,” said Daron Pearce, CEO of EMEA Asset Servicing at BNY Mellon. “It further demonstrates BNY Mellon’s open and cooperative approach to navigating the digital future of the investment industry, working alongside clients and together with other service providers to develop flexible, insightful and effective solutions.”
“Integrating BNY Mellon’s data with SimCorp Dimension enhances the timeliness and accuracy of information and operational efficiency available to clients, ultimately strengthening decision making and optimizing strategic agility,” said Johan Rosengreen-Kringel, Senior Vice President, Strategy & Corporate Development at SimCorp. “We firmly believe that this flexibility, combined with our highly automated front-to-back investment lifecycle and open integration with service providers will greatly benefit clients.”