State Street and SimCorp, an investment management solutions and service provider, have announced their intention to form a business partnership to provide a fully integrated, front-to-back investment outsourcing solution for insurance firms in EMEA. EMEA-based insurance companies will have access to SimCorp Dimension’s cloud-based, multi-asset class capabilities, advanced accounting functionality and managed services, together with State Street’s data management, middle office and custody services on the State Street Alpha platform. Consistent with the Alpha platform commitment to provide clients access to leading capabilities through an open architecture, this partnership will integrate SimCorp Dimension with State Street’s proprietary software solutions, including Charles River Development.
Jochen Müller, chief commercial officer at SimCorp, said: “We welcome the new business partnership with State Street. We are pleased that State Street is expanding the use of SimCorp Dimension in their European business and we are impressed how open they want to be in their Alpha Platform, also accepting the complete SimCorp Solution to deliver their services.”