SimCorp puts Dimension on the cloud with Microsoft Azure
SimCorp has completed a partnership with Microsoft to deploy its Dimension investment system on the Azure public cloud.
SimCorp has used Azure for its internal IT operations and services since 2019.
The vendor has integrated Azure into its external offerings and promises “unmatched operational efficiency and scalability.”
Georg Hetrodt, chief product officer at SimCorp, says that the firm has experienced a “significantly decreased CO2 footprint and increased flexibility” since adopting Azure internally.
These, he adds, were key factors in the vendor deciding to go with Azure for the foreseeable future. “We want to offer the same benefits to our clients.”
Those benefits include “easier to consume solutions and services”, a “robust” cloud offering, and “open access to innovation”.
The vendor is promising to update and iterate on its Dimension product using Azure. It plans to enable Dimension to support “a wider footprint of the investment lifecycle”.
SimCorp plans to use Azure as a base for a platform offering. Clients will be able to pick and choose from a variety of third-party external products using the new service.
Scott Guthrie, executive vice president for cloud and AI at Microsoft, says the two firms will cooperate for “continuous innovation, unmatched efficiency and scale.”
SimCorp joins a growing list of financial institutions and technology companies announcing deals with Microsoft and its public cloud platform this year.
Earlier this week Standard Chartered revealed the signing of a three-year deal with Microsoft focused on digital transformation.
Banking technology firm Finastra completed a multi-year deal with Azure in late July to support its range of services.
That same month Australian bank NAB completed the signing of a five-year Azure partnership, part of an ongoing cloud restructure of the bank’s technology.