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CaixaBank Asset Management selects SimCorp Dimension to transform front to back office operations

Published 22 May 2018

Investment management solutions provider SimCorp has been selected to transform CaixaBank Asset Management's front to back office operations.

With more than €50bn under management, CaixaBank Asset Management, part of the CaixaBank Group, is the leader in wealth and asset management in Spain. SimCorp Dimension will provide a highly automated, cost-effective setup, enabling CaixaBank Asset Management to scale and enhance its position in the market.

The agreement with CaixaBank Asset Management follows an agreement signed with its sister company, VidaCaixa, in late 2016.

To support future growth, CaixaBank Asset Management required an integrated front-to-back solution to increase its operational efficiency and automate key investment management processes and workflows. After a rigorous evaluation process, SimCorp Dimension was selected as the best solution to support CaixaBank Asset Management’s current and future business strategy.

SimCorp Dimension will replace a number of in-house built applications in the front and middle office, across portfolio and order management, pre- and post-trade compliance and performance measurement, through to fund accounting and other back office functions.

Supported by SimCorp’s foundational IBOR (Investment Book of Record), CaixaBank Asset Management will address its data management with one source of real time data delivering an organization-wide view of positions, cash and exposure.

CaixaBank Asset Management chief technology officer Jaume Viladrosa Cutrina said: “We have selected SimCorp Dimension for its broad functional coverage and its proven ability to increase operational efficiency.

“The implementation of SimCorp Dimension will enable us to scale for growth by relying on a single source of data across the entire organization from trading to fund accounting. In the front office, our teams will benefit from real time data enabling them to make faster and more informed investment decisions. We look forward to working with SimCorp on this strategic project.”

SimCorp Southern Europe managing director Emmanuel Colson said: “We are very pleased to welcome CaixaBank Asset Management to the SimCorp client community and to have the opportunity to support their growth strategy.

“Their investment in the integrated SimCorp Dimension platform to drive business transformation and efficiency demonstrates a strong commitment to securing the firm a competitive edge. The Spanish market is key to our expansion in Southern Europe and the partnership with CaixaBank Asset Management further strengthens our position in this market.”

Source: Company Press Release