SWEDEN - Swedish pension fund for the state-employed, Forsakringsforeningen for det Statliga Omradet (FSO), has selected SimCorp Dimension as its integrated system platform.
Under the agreement, SimCorp Dimension will handle the entire investment process, from analysis over performance reporting to cash management, accounting and compliance for the fund.
Commenting on the contract, Gunnar Balsvik, managing director of FSO, said: “We have chosen to implement SimCorp Dimension because we want to replace several applications with one integrated system thereby increasing the efficiency of our work processes.
“Furthermore, due to SimCorp Dimension’s broad instrument coverage, we will now have the opportunity to extend our business scope and to handle risk analysis and market valuations covering both assets and liabilities on a daily basis.”
Headquartered in Denmark, SimCorp develops and globally markets integrated investment and treasury management systems while also offering consulting services.
Earlier this year, SimCorp entered into a co-operation agreement with TietoEnator in the Nordic region, with the aim to provide financial institutions with enhanced benefits and services due to “closer integrated solutions and facilitated administration processes”, the company said.
Arnt S. Eilertsen, managing director of SimCorp Nordic, said: “TietoEnator has been very helpful in terms of introducing SimCorp and our product offering to FSO and this factor along with SimCorp’s well-established position in the Swedish market have resulted in this contract.”
SimCorp has subsidiaries throughout the Nordic region as well as in Belgium, Germany, Switzerland, the UK, Hong Kong, Australia, Singapore and the US.
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