Global Securities Services Organisation – SimCorp Dimension Implementation
This Securities Services provider part of a large European bank launched a program to replace their current I.T. platform used for its back office activities for institutional clients. The platform of choice, SimCorp Dimension was selected by the client for its robustness and ability to deploy different portfolios belonging to different customers on the same platform. Pentagon consultants were engaged to review and collate business requirements to support the design and build of SimCorp Dimension as a multi-client solution.
Due to the scale of this project and the transitioning of billions of AUM, it was agreed that the implementation should be migrated into production in two releases, over a period of 12 months. As independent consultants with strong domain knowledge, Pentagon were able to work with the client project team and personnel to deliver business requirements to the SimCorp implementation team, to ensure the most efficient design of the solution. Different work streams were organised in order to contribute to the detailed description of the functionalities that the Program management had decided to prioritise for the first migration.
The project included the consideration of local complex accounting rules and IFRS GAPP within the design of the platform and required specific developments to be made to fulfil accounting obligations.
The solution is now in production and Pentagon continues to support the client’s on-going requirements for SimCorp Dimension.