BNP Paribas Securities Services has expanded its partnership with SaaS investment management solutions provider SimCorp to provide insurance accounting and reporting solutions within its custodian and banking services.
SimCorp’s new investment operations and accounting services solutions will be available to common clients, continuing BNP Paribas’ use of the company’s SimCorp Dimension service in its front-to-back investment value chain. SimCorp’s Asset Service Hub will offer data interoperability between BNP Paribas’ banking services and SimCorp’s accounting services.
Following updates to both companies’ connectivity and service integration operations, asset owners will see a more efficient onboarding process, the companies say.
Jochen Müller, executive vice president and managing director of operations and accounting services at SimCorp, says: “SimCorp’s technology within investment accounting services is trusted by a number of major global asset owners, and we are proud to build on our partnership with BNP Paribas by expanding our agreement to this area. This is a true testament to the success of our companies’ collaboration over 10 years, which we look forward to continuing.”
Arnaud Claudon, head of the client line asset manager and asset owners at BNP Paribas Securities Services, comments: “This expanded collaboration with SimCorp delivers a compelling combined value proposition to asset owners. We are thrilled to offer progressive service integration between two industry leading providers for the benefit of our common clients.”
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