KAS Bank has partnered with SimCorp Dimension to strengthen its new investment and administration.
SimCorp Dimension will provide KAS Bank with an automated solution for its investment administration and custody services to global institutional investors.
With SimCorp Dimension, KAS Bank will optimise and automate back-office processes to enable scale, while significantly reducing cost.
The introduction of SimCorp Dimension at KAS Bank will see management and processing of customer and market data, management of corporate actions, and other back-office functions all taking place in one central location.
At the same time, KAS Bank will be able to continue using ongoing research and development to ensure its services remain in compliance with industry regulation.
KAS Bank will also utilise SimCorp Dimension as an integrated solution for custody services and will, in addition, deploy SimCorp Coric’s full client communications suite for its global client communications.
The first outsourcing clients are expected to be connected to KAS Bank’s renewed investment and administration platform in 2019.
Sikko van Katwijk, chairman of the managing board at KAS Bank, said: “The cooperation with SimCorp is an important step in the transformation of our organisation into a global administration and custodial bank.”
He added: “As we continue to deal with increasing demand in the market for our services, this agreement offers us a distinct opportunity to expand our data-driven services and increase client satisfaction, as part of our four strategic priorities.”
Klaus Holse, CEO of SimCorp commented: “We are pleased to extend the partnership with KAS Bank and to have a key stake in the realisation of their strategy.”
He added: “While we advocate for the consolidation of investment management in-house, the collaboration with KAS Bank acknowledges that there are firms whose business model, for various reasons, cannot support back-office functions in-house. With this agreement, these firms are now able to secure efficient outsourced investment handling, based on best practice.”
