NEW YORK, June 14, 2017 /PRNewswire/ -- SimCorp, a leading provider of investment management solutions and services for the global financial services industry convened in Fort Lauderdale, Florida from May 9-11 for the 2017 North American User Summit (NAUS). The event featured the annual 'Thunderbird' Awards ceremony, where SimCorp users are recognized for giving voice to the positive change they drive through the innovative use of technology. The recipients of this year's Thunderbird Awards are Fannie Mae and Ontario Teachers' Pension Plan.
Senior Vice President & Controller Chryssa Halley participated in a video where she explains the technological transformation undertaken at Fannie Mae to migrate away from legacy systems to a consolidated, simplified and more efficient operating model. In the video, Halley describes the integral role that technology plays in supporting the organization's overall strategic mission of providing access to reliable, affordable mortgage financing, and how back office system consolidation has driven efficiency gains and helped the organization to run safely and soundly.
After implementing SimCorp Dimension, Fannie Mae was able to:
- Reduce the system footprint by almost 60%
- Reduce system interfaces by 50%
- Reduce manual processes by 80%
- Redeploy 50% of staff to more value-added responsibilities
This year's second winner is Ontario Teachers' Pension Plan, which was recognized for its contribution of thought leadership to The Journal of Applied IT in Investment Management in the CXO Corner relay column titled , "Driving a Customer Service Approach to Operational Excellence." In this interview, Rosemarie McClean, Chief Operating Officer provides insights on how the right technological platform enables her firm to respond to business needs in an agile and innovative manner.
The article explores:
- Why COOs must demonstrate efficient operation
- Why COOs must have increasing strategic insight and contribute to the overall business goals
- The importance of strong vendor relationships
- How an IBOR can help you keep pace with industry complexity
"We consistently hear from our clients that they are faced with an unprecedented amount of industry complexity, for instance increasing amounts of data, new regulations and reporting demands, and the emergence of new financial instruments," said James Corrigan, Managing Director of SimCorp North America. "In response, this year's conference theme, 'One System for a Complex World' provided a forum to explore how these challenges can be managed by simplifying the operating model. Although Fannie Mae and Ontario Teachers' Pension Plan have very different strategic missions, they both acted as agents of change in their respective fields. Both have leveraged SimCorp Dimension to drive operational efficiencies that in turn allow them to deliver real and sustained benefits to their clients. It is my honor to recognize and congratulate these two outstanding firms as the 2017 SimCorp Thunderbirds."
The global community of SimCorp users will convene from September 14 – 16 in Barcelona, Spain for the International User Community Meeting.
Enquiries regarding this announcement should be addressed to:
Erica Fidel, SimCorp North America, email@example.com, 212.994.9453
Mittal Shah, SimCorp UK/North America, firstname.lastname@example.org, +44 207 397 8072
SimCorp provides integrated, best-in-class investment management solutions to the world's leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers and sovereign wealth funds. Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests more than 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on NASDAQ Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
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