Source: Sparkassen Informatik
Sparkassen Informatik (SI), the technology platform provider for more than half the savings banks in Germany, has successfully completed a year long pilot programme with portfolio management system, SimCorp Dimension.
SI will now roll out the solution to all 229 affiliated institutions. SimCorp Dimension was chosen by SI in late 2004 to handle German requirements for securities dealing; risk management functions will be implemented in a future project. In the pilot programme the solution has stood the test in daily operations in eleven savings banks representing a wide cross section of SI's affiliates.
To comply with the needs of different types of affiliated savings banks, three standardised versions of the multi-client capable software have been implemented. Whereas simplicity and transparency are the priority of smaller institutions, larger savings banks require broad instrument coverage, a high degree of automation, and IFRS/IAS reporting capability.
"With SimCorp Dimension we offer the latest, future-proof software for the portfolio management activities of our savings banks, from risk management to management reporting," says Andreas Schelling, chief representative of Sparkassen Informatik. "The project team, comprising personnel from Sparkassen Informatik, SimCorp and external partners has done excellent work and we look forward to the rollout," he adds.