SimCorp, an independent provider of SaaS investment management solutions, has entered into a partnership with Domos FS, resulting in the first ever complete front-to-back-office investment management offering covering both public and private markets for asset managers, asset owners and service providers.
The partnership is further reinforced by SimCorp taking an initial minority stake in Domos FS.
Christian Kromann, CEO of SimCorp, comments: “Our clients are increasingly looking for more integrated service offers. Through our partnership with Domos, we are accelerating our move to offer integrated best-in-class technology solutions as a service to our client base. We believe that servicing clients efficiently means relying on and investing in state-of-the-art technology solutions, and our business model is designed to ensure we can offer this through our partner ecosystem. We are excited to join forces with Domos to provide the only truly cross asset front-to-back investment management offering on the market.”
The partnership will allow SimCorp to integrate the cutting-edge Domos General Partner SaaS solution into its partner ecosystem. The combination of alternative investment innovations, built by SimCorp for Limited Partners and by Domos for General Partners and fund administrators, delivers a new solution for clients that will enable them to effectively and efficiently scale their business operations. The new offering includes machine learning assisted document processing, intelligent cashflow forecasting, daily exposure calculation, a next generation investor portal, standardised partnership accounting and automated regulatory reporting.
The partnership has been created in response to the increased use of alternatives in recent years by a wide range of asset managers and asset owners, and the operational challenges this has presented for existing and new investors in these asset classes. In particular, the rise of traditional asset managers investing heavily in private markets has highlighted that legacy tools are often not fit for purpose, as the requirements for front and back-office solutions have evolved rapidly. Until now, the market was missing a complete package to cover the whole fund lifecycle when investing across private and public markets.
Hugues Chabanis, Vice President, Innovation at SimCorp, adds: “Alternatives are now a fundamental part of the asset mix. At SimCorp, we believe in a core platform that serves as the operational backbone for investors, open to some of the best technology and integrated services out there. Underpinned by a great functional and cultural fit, SimCorp and Domos are enabling this industry-first offer to minimize operational friction and improve overall efficiency.”
Accelerated by COVID 19, SimCorp has seen a clear need from asset managers, asset owners and service providers for better integration and a smoother implementation journey, combined with a need for higher automation, better service levels and ultimately a lower total cost of ownership. The joint offer from SimCorp and Domos FS is a solution to these needs across public and private asset classes.
Arnaud Vinciguerra, CEO of Domos FS, said: “SimCorp is a leader in the buyside market and is recognised as such by its clients. This partnership presents a fantastic opportunity to accelerate our market footprint though a strong collaboration where we have seen a great technology, products and not least a seamless cultural fit.”