Today, KAS BANK and Simcorp announce the extension of a strong relationship through a strategic agreement for the development of an integrated investment and administration platform. This platform enables institutional investors to outsource their back- and mid-office to KAS BANK, providing them with the flexibility to further focus on their core business.
28 Mar 2018
This agreement combines the best of two worlds for our clients: KAS BANK’s expertise in asset services and SimCorp technology as an enabler. There is interest in the market for this service as demand for outsourcing is increasing. First outsourcing clients are expected to be onboarded in 2019.
Integrated solution for outsourced investment handling
The cooperation between SimCorp and KAS BANK is unique. The new investment and administration platform provides clients and investors with a 'single version of the truth' based on independently gathered data on their investments worldwide. SimCorp Dimension will provide KAS BANK and its clients with a highly automated and comprehensive solution for its investment administration and custody services. Pursuing a single platform approach, we will as one of the first SimCorp clients globally utilise SimCorp Dimension as an integrated solution for outsourced investment handling and custody services.
Sikko van Katwijk, Chairman of the Managing Board at KAS BANK comments: “The cooperation with SimCorp is an important step in the transformation of our organisation into a global administration and custodial bank. 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 comments: “We are pleased to extend the partnership with KAS BANK and to have a key stake in the realization of their strategy. 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".
Enabling efficiency and quality of services
The new investment and administration solution offers institutional investors (e.g. pension funds, insurance companies and asset managers) clear benefits in terms of latest market developments, flexibility and economies of scale and thus improving the (data) quality of their services. In addition, an outsourced back office administration enables them to invest in other part of their IT landscape or organisation. Both our clients and KAS BANK will benefit from SimCorp’s committed ongoing R&D to ensure its services remain at the forefront of industry standards and regulatory best practice.
We will also deploy SimCorp Coric’s full Client Communications suite, which includes Coric’s Web Reporter, a self-service online reporting portal delivering our clients up-to-date information and on-demand access to analytics and data visualization tools. The move to SimCorp Coric overhauls existing systems across customer reporting services, to further automate reporting and enhance the bank’s digital capabilities.