Nomura Bank extends relationship with software provider Simcorp
Luxembourg-based Nomura Bank has singed a “large additional licence agreement” with investment software specialist Simcorp, according to the vendor.
The bank went to market looking for a new software provider but concluded that staying with Simcorp would be the best option. The two companies have been working together since 2009.
Simcorp’s CEO, Klaus Holse, comments that Nomura “conducted a thorough assessment of vendors and solutions in the market”.
The bank will continue to use Simcorp’s back office system, Dimension, for custody, trade processing and fund accounting.
Virginie Lagrange, Nomura’s chief administrative officer, says the bank is looking to increase operational efficiency and expand client footprint. Integrating the fund accounting and custody solutions on a single platform is “key” to achieving this, Lagrange adds.
For its private banking operations, Nomura is a long-standing user of the Olympic core banking system from specialist supplier ERI.