BNP Paribas & SimCorp Extend Partnership on Insurance Accounting

The Securities Services business of BNP Paribas, a global multi-asset servicing specialist with EUR 10.8 trillion in assets under custody and EUR 2.3 trillion in assets under administration, has expanded its strategic partnership with SimCorp, a leading provider of SaaS investment management solutions, to offer insurance accounting and reporting solutions integrated with its custodian and banking services.This collaboration leverages SimCorp’s new SaaS solutions for investment operations and accounting services, and is built on the companies’ longstanding partnership, which includes the use of SimCorp Dimension across Securities Services’ front-to-back investment value chain.Common clients will benefit from the combined expertise of a leading global custodian and a fast-growing tech-enabled services provider. SimCorp has over 50 years of expertise within investment accounting across multiple jurisdictions and multi-asset classes, providing a strong global industry presence underpinned by local expertise.Both companies have reinforced their connectivity and service integration to broaden the range of services delivered to asset owner clients. SimCorp’s Asset Service Hub will provide robust data interoperability between BNP Paribas’ suite of banking activities and SimCorp’s accounting platform and Investment Accounting Services. Institutional clients will thereby experience a faster and smoother onboarding process with standard protocols proven with live clients.Rethinking and optimising service models follows a growing industry trend within institutional investing, in which firms are increasingly concentrating non-core operations with specialised providers in order to focus more on value-adding activities. SimCorp and BNP Paribas currently have three common clients live with the service, and the two partners will leverage the best practices acquired to streamline the framework for further onboarding of future clients.

About alastair walker 11366 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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