Challenger appoints SimCorp in Aussie first
CHALLENGER Financial Services Group(CFSG) has appointed Europe-based technology group SimCorp Dimension to service its portfolio and investment management back-office operations.
The deal is SimCorp’s first in the Australian market and will see it replaceDST Internationalas back-office provider to Challenger.
Challenger will utilise SimCorp’s full straight-through processing functionality across a range of operations. These areas include trade and order management, portfolio management and analytics, risk management, performance management and attribution, cash management, fund administration, security and position administration, compliance and regulatory reporting, and accounting.
Challenger general manager, information technology, Derek Goh says the features distinguishing SimCorp from competing systems are its functionality, flexibility and the scalability of its technology.
“Challenger’s goal was to find a system that was flexible and would scale readily to facilitate its new product initiatives and accommodate its planned growth, as well as providing the best possible tools for asset, portfolio and performance management,” Goh says.
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