SimCorp, a provider of integrated, front-to-back, multi-asset investment management solutions and services, has welcomed five new global clients for its holistic data-as-a-service offering, SimCorp Datacare.
According to SimCorp, this indicates a strong and fast-growing global market for cloud data management services since the service was launched in partnership with Zurich Insurance a year ago.
It comes as the proliferation of investment data, including the rapid growth of ESG data, continues to cause significant operational turmoil in the buy side, magnified by the pandemic.
Following a year of disruption in the industry, SimCorp says buy-side firms are today grappling with growing volumes of complex multi-asset data, spreading across borders and regulatory jurisdictions, as well as juggling changing operational and regulatory requirements.
This has not only made data operations increasingly difficult but has also left firms struggling to acquire and act on trusted data, SimCorp explains.
SimCorp developed its technology-enabled full service, collaborating with clients to rapidly mature coverage within a truly data-agnostic approach.
Additionally, with SimCorp’s fully-remote implementations supporting business continuity during one of the most volatile market events, three of the six clients are already live and running on SimCorp Datacare, in the same year of signing.
Josef Sommeregger, managing director, data and reporting at SimCorp, comments: “When we developed SimCorp Datacare, it was vital that it tackled all fronts of what has been an expensive and time-consuming challenge for many firms.”
He continues: “Unseen in the market before and delivering true value, is our dedicated team of experts who arm firms with the distinct advantage of staying on top of industry, regulatory and market data changes, empowering them to seize new investment opportunities with increased agility.”
This enables firms’ resources to transition from mundane data tasks, towards more motivating alpha-generating activities that can truly differentiate in the market, according to Sommeregger.
“SimCorp Datacare fundamentally changes the market approach to data management, and it is our firm belief that we can robustly address this investment-critical need for our clients.”
Meanwhile, Ruchir Verma, head of global Services, Investment Management at Zurich Insurance, adds: “One of the key benefits of Data as a Service is that it enables us to free our resource capacity from the operational processing of non-differentiated data and focus instead on our core business outcomes. This is not only motivational for our team but also delivers a real competitive advantage.”
Earlier this year, SimCorp announced its decision to deliver a holistic data service for private markets asset management in collaboration with Colmore, a technology-driven private markets specialist.
