Notnstein Private Bank Streamlines its Operation with Simcorp' Solution
NEW YORK, NY: SimCorp, provider of investment management solutions and services for the global financial services industry, announces the adoption of the solutionSimCorp Dimension by Notenstein Private Bank for efficient front- and middle-office operations.
A subsidiary ofthe Swiss cooperative bank Raiffeisen Schweiz; Notenstein Private Bank has under it assets around CHF 20 Bn and is aiming to be one of the top three private banks in Switzerland. The decision to deploy SimCorp’s solution by Notenstein is part of expanding its institutional business and enhancing the current banking environment.
“Our decision was the result of a comprehensive selection process involving both Swiss and global solution vendors. This process included on-site due diligence at other asset managers,” says Andreas Knörzer, Head of Asset Management at Notenstein Private Bank.
The SimCorp Dimension Solution’s features include: transparency, clear and rational audit trail and mitigates operational risk, allows business to grow, adding new mandates, strategies, transactions; an up to date solution and compliant with regulations; reduces operational risk as standardized processes and workflows are carried out quickly with a minimum manual intervention; enables straight-through-processing (STP) of all transactions with efficiency, accuracy, and speed and finally expands possibilities to trade in new instruments and asset classes, thereby increasing opportunities for growth.
“The increasing demands and growing competition in the asset management industry dramatically increases the need for a powerful front-office solution,” adds Frank Häusgen, Senior Sales and Account Manager at SimCorp. “The flexibility of our solution allows specific setups for various sizes of institution and gives our clients confidence in a future-proof solution that keeps pace with regulatory changes.”