Deutsche Bank Securities Services has renewed its partnership with SimCorp to deliver fund services across Asia Pacific (APAC).
As part of the deal, Deutsche Bank is set to benefit from the platform’s automated end-to-end transaction flow and reports as well as greater efficiency and scalability.
Additionally, Deutsche Bank will also be able to continue to address key operational challenges; from managing an increasing number of global, multi-asset investment strategies, to heightening regulatory reporting whilst reducing operating costs.
Meanwhile, the renewal agreement will cover markets and will support its growth in the region which converges with the Asian asset management industry’s ‘hyper growth’, set to reach $112 billion by 2025.
Anand Rengarajan, APAC head of securities services at Deutsche Bank, said: “Following a 14-year partnership with SimCorp in Asia Pacific, we are confident that the continued innovation and feature-rich platform of SimCorp will continue to both meet our needs today and in the future.”
Rengarajan continued: “The fund services business in our region is growing rapidly and customers are demanding higher levels of service. Over the years, we have invested thoroughly in technology that can embrace these evolving needs, and this partnership is in line with this strategy.”
Oliver Johnson, managing director of SimCorp Asia Pacific, commented: “We are pleased to announce the renewal of our partnership with Deutsche Bank. This agreement demonstrates the operational efficiencies that can be achieved through a consolidated platform, including superior services and access to new technologies and offerings, which are key in this fast-growing region.”
