SimCorp’s Coric solution has been chosen by Kempen, a Netherlands-based asset manager, to replace its incumbent legacy reporting solution.
The mandate is intended to increase operational efficiency and agility across Kempen’s client services teams and to improve client experience.
According to SimCorp, the fiduciary management firm chose the solution after a review of processes, and on identifying a number of inefficiencies, including high levels of manual processing, low operational agility, and a lack of proper report governance.
SimCorp Coric is designed to address these inefficiencies, while introducing more automation to mitigate operational risk.
Kempen is the latest in a string of firms choosing SimCorp Coric to upgrade their client reporting processes, partly in response to rapid changes to regulation within the industry.
Last month, Australian-based FIIG Securities and Danish investment company Novo Holdings both announced they would be using SimCorp for their investment platforms.
Danish asset manager C WorldWide Asset Management Fondsmæglerselskab also extended its SimCorp Dimension licence agreement to include SimCorp Coric.
Stuart Keeler, managing director at SimCorp Coric, said: “We are delighted to welcome Kempen as the latest member of the SimCorp Coric community. Evolving investor demands and other market pressures result in asset managers like Kempen no longer being able to rely on legacy technology for their client communications.”
He added: “As other firms that have made the decision to replace legacy solutions, Kempen will gain a competitive advantage once live with SimCorp Coric.”
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