Jun 09, 2015, 10:34 ET
NEW YORK, June 9, 2015 /PRNewswire/ -- SimCorp, a leading provider of investment management solutions and services for the global financial services industry convened in Half Moon Bay, California from May 19th – 21st for the 2015 North American User Summit (NAUS). The event concluded with the 'SimCorp Thunderbirds,' an annual award presented by SimCorp to its users who have gone above and beyond in giving public voice to the positive changes they drive through the innovative use of technology. The recipients of this year's awards are Alberta Investment Management, BMO Asset Management Corp., and Janus Capital Group.
AIMCo was recognized for 'AIMCo Innovations,' a program instituted to modernize the firm's system landscape by reducing operational risk and improving data accuracy for superior investment decision-making. Among the benefits of AIMCo Innovations are $500K annual savings with no increase to the FTE, a reduction in costs and operational risk by means of multi-currency accounting, closing accounting records from T+4 to T+1, and a reduction in income allocation time, going from a manual, six day process on a quarterly basis to an automated process of just minutes on a daily basis.
BMO Asset Management Corp. was recognized for its advocacy in supporting the front office with timely and high-quality accurate data with the investment book of record (IBOR.) Among the benefits BMO has realized from implementing an IBOR are growth of the firm's fund family by 40%, having consistent data feeding all front-to-back systems in near real-time, and the ability to onboard 3-4 SMA clients per week as opposed to per quarter.
Janus Capital Group was acknowledged for improvements in its net asset value (NAV) processing. Because of the process enhancements, Janus has been able to deliver NAVs faster to its intermediary partners, allowing them to quickly kick off their processes. So drastic was the improvement, Janus was also recognized at a recent industry conference for going from 20th to first place in timely NAV delivery over the course of a few months.
James Corrigan, Managing Director of SimCorp North America commented, "It's important to acknowledge innovation in our industry and our clients who demonstrate that they are agents of change in their field and out-of-the-box thinkers who are able to leverage SimCorp Dimension in a way that brings real and sustained benefits to their organizations and their clients. It is my honor to recognize and congratulate AIMCo, BMO and Janus as the 2015 SimCorp Thunderbird Award Winners."
The global community of SimCorp users will convene from September 9th – 11th in Copenhagen for the International User Community Meeting.
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world's leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. Based on its world-class software platforms, SimCorp Dimension and SimCorp Coric, SimCorp provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Listed on the NASDAQ OMX Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
Enquiries regarding this announcement should be addressed to:
Susan Peter, SimCorp North America, 917-546-4654, [email protected]
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