Irish Life Investment Managers Chooses SimCorp's TMS2000

One of the largest investment management companies in Ireland, Irish Life Investment Managers (ILIM), has selected TMS2000, SimCorp's investment management system. The system will support up to 50 users at ILIM, which is a subsidiary of Irish Life & Permanent plc with more than EUR14 billion of assets under management. Replacing four core back office systems, TMS2000 will be used for ILIM's investment accounting, straight through processing and unit pricing across its entire client portfolio as well as providing full support for its multi-tiered unit fund structures and complete back office support for its treasury operation.

In 2001 ILIM conducted a very detailed review of the market. It required a system that would conform to its IT strategy, which is to have an integrated enterprise-wide architecture encompassing front and back office applications. After looking at ten systems in detail and after considering the option of enhancing its existing systems architecture, ILIM found that SimCorp's TMS2000 was the system that best met its needs.

Overall, ILIM was impressed with the system's flexible technology, which enables the business to adapt to changing demands from clients and markets; and its very extensive capabilities that come as standard.

"We like the system's flexibility around user defined business processing and its technology which enables linkages to other ILIM systems," says Eugene O'Callaghan, Chief Operating Officer for ILIM. "A particularly important feature is the potential TMS2000 offers to integrate both the data and functionality currently residing in a number of different back-office systems."

Kjell Nordgard, Managing Director for SimCorp in the UK and Ireland says; "We are delighted with the signing of ILIM as a client for TMS2000. ILIM is a key player in the Irish investment management community, and this relationship therefore marks an important milestone in SimCorp's market expansion in the UK and Ireland. There is an ever-growing focus in the market on true STP and integrated solutions. We are convinced that ILIM will experience huge business benefits by moving their operations on to a consolidated platform like TMS2000."

A phased approach will be taken for the implementation of TMS2000 into ILIM with the first of the four core systems being replaced by the middle of 2003 and completion by the end of 2003.

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