The Federal Home Loan Bank of Des Moines Selects SimCorp Dimension for Front-to-Back, Cross Asset Investment Management

20 September 2018

SimCorp, a leading provider of investment management solutions and services to the global financial services industry, announces that it has signed a license agreement with The Federal Home Loan Bank of Des Moines (the Bank or FHLB Des Moines) for use of SimCorp’s investment management system, SimCorp Dimension, across front, middle and back office.

Under this new agreement, the Bank will utilize SimCorp Dimension across the majority of its balance sheet operations, worth approximately USD 150 billion. The solution will cover investment securities, consolidated obligation debt securities, advances and derivatives (including hedge accounting).

As one of 11 regional banks in the Federal Home Loan Bank System, FHLB Des Moines’ mission is to provide funding and liquidity for the Bank’s members and housing associates, so they can meet the housing, economic development and business needs of the communities they serve.

Bill Bemis, treasurer for FHLB Des Moines, states: “A scalable and efficient operating infrastructure is key to the success of our mission. To that end, we found SimCorp’s cross asset platform ideal to unify our four major business activities, securities, derivatives, consolidated obligations (debt issuance), and collateralized advances. SimCorp’s all-in-one platform capabilities are well-suited to our business and operational needs.”

“We are extremely proud to add FHLB Des Moines to our growing list of government-sponsored enterprise clients,” notes James Corrigan, Executive Vice President and Managing Director of SimCorp North America. “FHLB Des Moines is among the most progressive organizations with the vision and commitment to onboard technology and automation in support of broader business mandates for liquidity management, operating efficiency, risk management and regulatory compliance.”

Enquiries regarding this announcement should be addressed to:
Mittal Shah, SimCorp PR UK/North America +44 207 397 8072 mittal.shah@simcorp.com

Anders Crillesen, SimCorp Corporate Communications +45 3544 6474 anders.crillesen@simcorp.com

 

About SimCorp

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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