A collaboration has been announced between the Bank of New York Mellon Corporation (BNY Mellon) and global financial investment management solutions firm, SimCorp.
The partnership is set to connect BNY Mellon’s range of custody capabilities which includes settlement, safekeeping, and cash and securities services with SimCorp Dimension – SimCorp’s integrated front-to-back investment management system.
As a result, mutual global clients are expected to benefit from increased enterprise risk management and speed to market for on-boarding as well as improved operational efficiency and transparency in core processes.
Daron Pearce, CEO of EMEA Asset Servicing at BNY Mellon, commented: “Our collaboration with SimCorp offers significant opportunities for clients around the globe to improve their performance through enhanced data flows and to eliminate inefficiencies.
“It further demonstrates BNY Mellon’s open and cooperative approach to navigating the digital future of the investment industry, working alongside clients and together with other service providers to develop flexible, insightful and effective solutions.”
The partnership aims to accelerate the optimisation of investment workflows and is set to deliver enhanced automation.
This is expected to provide portfolio managers, operations teams and risk professionals the potential to gain a sharpened insight into the deployment of cash and securities.
Moreover, more informed investment decision-making is set to be driven by a combination of increased transparency, faster availability of corporate actions and tax reclaim data.
Johan Rosengreen-Kringel, Senior Vice President, Strategy & Corporate Development at SimCorp, added: “Integrating BNY Mellon’s data with SimCorp Dimension enhances the timeliness and accuracy of information and operational efficiency available to clients, ultimately strengthening decision making and optimizing strategic agility.
“We firmly believe that this flexibility, combined with our highly automated front-to-back investment lifecycle and open integration with service providers will greatly benefit clients.”