KAS BANK signs with SimCorp

KAS BANK, a specialist European bank offering a wide range of securities and information services, has signed an agreement with SimCorp for the supply of its market leading investment management system, SimCorp Dimension. With EUR 300 billion worth of deposits and assets under management, the SimCorp Dimension system will become the new IT platform for investment management, supporting 35 users in the back office operations of the bank’s Investment Management Services (IMS) department. With the installation of SimCorp Dimension, IMS intends to improve the quality of the service provided to its clients.

Prior to choosing SimCorp Dimension, KAS BANK carried out a detailed analysis of potential suppliers and their systems. SimCorp Dimension emerged as the most suitable system for the bank’s requirements.

KAS BANK primarily made its decision on the system’s straight-through processing capability, which facilitates and simplifies full integration with KAS BANK’s existing systems. Another significant attraction was the ability of SimCorp Dimension to handle several accounting frameworks in parallel. Its risk management capabilities and ability to adapt to international accounting standards (IFRS/IAS) were further factors underpinning KAS BANK’s decision to choose SimCorp’s system.

André Boomars, associate director of Investment Management Services at KAS BANK said: “KAS Bank has purchased or developed various systems in the past, but with SimCorp Dimension we are providing our investment management department with an ultra-modern software package. Using this new system, IMS will be able to offer a consistently high-quality service to our clients. The SimCorp Dimension system will be fully integrated into our existing in-house systems. It will provide the link between the legal supervision of the position and the bank’s administrative IT systems.” Troels P. Jensen, managing director of SimCorp Benelux SA/NV said: “We are delighted to welcome KAS BANK as one of SimCorp’s Dutch clients. Because KAS BANK is a prestigious Dutch financial institution, choosing SimCorp Dimension further confirms the outstanding quality of our system and gives a clear indication that SimCorp Dimension is setting the standard for investment management in the Netherlands.”

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