TietoEnator and SimCorp team to deliver mutual fund systems
TietoEnator, the largest IT services provider in the Nordic countries, and SimCorp, a leading provider of investment management systems, have agreed to enter into cooperation within the area of Mutual Fund and Hedge fund industry IT solutions. The agreement means that TietoEnator further strengthens its position on the Nordic Banking and Insurance market.
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TietoEnator and SimCorp are already offering market leading standardised products for fund administration for different market segments. TietoEnator has its strengths in the Shareholder ledger segment (TietoEnator Client Manager, TCM) and SimCorp in Portfolio Managment (SimCorp Dimension). Both parties now envisage a potential to complement each other and thereby provide Banks and Insurance companies with enhanced benefits and services due to a closer integrated solution and facilitated administration processes.
TietoEnator has extensive experience of installation and implementation projects for the Banking and Insurance market, and in the first phase of the collaboration the companies will cooperate on SimCorp Dimension implementation projects in the Nordic countries.
As a result of the agreement TietoEnator plans to discontinue its software development of the portfolio systems, TietoEnator Fund Manager and Optima. SimCorp will offer these clients to migrate to SimCorp Dimension.