Kempen ousts legacy reporting tech in favour of Simcorp Coric
Kempen, a €49.5 billion asset manager in the Netherlands, is replacing its legacy client reporting solution with Simcorp Coric.
Simcorp explains: “Following a review of existing processes, Kempen identified a number of inefficiencies, including high levels of manual processing, low operational agility, and a lack of proper report governance.
“Having examined relevant solutions in the market, Kempen found Simcorp Coric to be the optimal solution to address these inefficiencies.”
Erik Luttenberg, COO at Kempen, says Simcorp’s “technical expertise and track record in replacing legacy reporting solutions were decisive factors in our selection”.
In addition to the front-end solution for client reporting, Kempen will also use Simcorp’s production control dashboards to provide management oversight of the report production process.
According to Simcorp, in the last 18 months, five firms have selected its Coric solution to upgrade their client reporting and replace incumbent technology.
The solution stems from a London-based company, Equipos, which was purchased by Simcorp in early 2014 for €10 million.
The two companies had a long-standing partnership by then. The Coric Client Communications Suite was already brought into the Simcorp portfolio, marketed and sold as Simcorp Dimension Report Book Manager.
At the time of the acquisition, Equipos had around 70 Coric clients, in the institutional asset management and private wealth sectors. Prior to the deal, Simcorp held a 20% stake in Equipos’ share capital.
Simcorp intended to offer Coric both on a standalone basis and fully integrated with its middle-to-back office system, Simcorp Dimension.
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