Central Bank of Sri Lanka selects SimCorp’s investment platform
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Central Bank of Sri Lanka selects SimCorp’s investment platform 30 November 2020Sri Lanka Reporter: Maddie Saghir
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The Central Bank of Sri Lanka (CBSL) has selected SimCorp’s front-to-back investment platform, SimCorp Dimension, to manage the investment operation of the country’s official reserves.
The agreement between CBSL and SimCorp Asia Pacific aims to deliver the bank with increased operational resilience, improved automation and strong support of the bank’s investment strategy.
The implementation of SimCorp Dimension is part of its long-term strategy to strengthen operational efficiency and risk management at CBSL.
CBSL will utilise SimCorp’s integrated Investment Book of Record (IBOR), which will serve the central bank with a single source of data and a view across asset classes, allowing teams across the organisation with full transparency for stakeholder reporting.
Meanwhile, the mandate will also see SimCorp’s automated investment solution streamline the bank’s investment management.
This includes front office functionality, compliance and performance, through to investment accounting, covering the International Financial Reporting Standards.
Additionally, the solution will handle all of the bank’s internally and externally managed funds and coverage of fixed income, money markets and gold.
Oliver Johnson, senior vice president and managing director, SimCorp Asia-Pacific commented: “We are pleased to welcome the Central Bank of Sri Lanka within our global client community. With an integrated front-to-back, multi-asset platform, continued innovation and a deep understanding of central banking needs, we have steadily grown the number of global central banks in our client community.”
Johnson added: “The partnership with the Central Bank of Sri Lanka is a testament to this commitment and we are confident that our consolidated approach to investment management, will meet the bank’s long-term strategy and deliver the operational resilience it requires to grow prosperously.”
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