The Finnish deposit bank, eQ Bank Ltd. has implemented SimCorp Dimension for their front and middle office operations. eQ Bank offers online brokerage services, asset management and net banking and will use SimCorp Dimension’s front and middle office functionality to provide trade management, risk management, performance management and attribution.
In selecting SimCorp Dimension, eQ Bank made a careful study of the system. They found that SimCorp Dimension was the only system which could meet their business requirements. Due to the system’s functionality, flexibility and scalability, SimCorp Dimension can support eQ Bank’s plans for future growth and thus provide their customers with high-end reports and analyses in the future.
"eQ Bank is aiming high and wants to be second to none in its own segment of banking operations. Our unwillingness to make compromises made us choose SimCorp Dimension to support our banking business", says Juha Korhonen, Executive Vice President at eQ Bank Ltd.
"SimCorp as a company and SimCorp Dimension as a product have a very good track record in the financial industry. SimCorp Dimension meets all business related objectives that eQ sets for the system. In addition to this – and because we at eQ want all our new IT components to complement our end-to-end STP platform – we were positively surprised of the wide scale of APIs and system interconnection capabilities of the system. The design phase and tailoring of the system and the actual deployment went smoothly, which proved to us the high professional skills and commitment of the experts at SimCorp", says Pekka Virtanen, Chief Technology Officer at eQ Bank Ltd.
As scheduled the SimCorp Dimension solution for eQ Bank is now in production after an efficient implementation process.
"We are very pleased about expanding our customer base in Finland and are looking forward to a long-term cooperation with a professional and fast growing organisation like eQ Bank. We are convinced that by choosing SimCorp Dimension eQ Bank will be able to get a competitive edge", says SimCorp Senior Vice President Flemming B. Thomsen.