BNP Paribas Securities Services has reappointed SimCorp to provide investment accounting technology solutions.
The BNP Paribas group has been a SimCorp client since 2013 and uses SimCorp Dimension across its front-to-back investment value chain in several regions, including Europe, Middle East and Africa (EMEA) and the Americas.
The new contract encompasses a global licence agreement for the next six years and is in line with BNP Paribas Securities Services’ roadmap, including investment accounting services, advanced interoperability options and transition to new regulations, including the Central Securities Depositories Regulation.
BNP Paribas Securities Services and SimCorp are also pursuing a joint initiative to develop front-to-back seamless integration between SimCorp Dimension and BNP Paribas Securities Services’ custody services, aiming to enhance operational efficiency through increased transparency and timely information delivery for the benefit of their common clients.
Arnaud Claudon, head of asset owners and managers client lines at BNP Paribas Securities Services, comments: “SimCorp Dimension has been a solid cornerstone of our operating model for several of our key strategic clients for many years. This substantial mandate extension is an important milestone that will enable us to foster the delivery of our strategic objectives.”
Hans Otto Engkilde, executive vice president and managing director at SimCorp EMEA, says: “This strategic partnership demonstrates our strong expertise in investment accounting and highlights our commitment to innovate and our ability to enable our clients to increase their operational efficiency. We look forward to pursuing this close and trustful collaboration and supporting BNP Paribas Securities Services to scale and achieve their long-term strategic ambitions.”
