IBS Journal January 2016
Sungard’s InvestOne out, Simcorp Dimension in at Bluebay Asset Management
London-based global fixed income special- ist, Bluebay Asset Management, is live on Simcorp Dimension. The new investment management platform is supplied by spe- cialist vendor Simcorp and supports middle and back office operations of Bluebay. The deal was struck in early 2013 and
the project kicked off not long after. In an exclusive interview to IBS Intelligence in 2013, Klaus Andersen, managing director at Simcorp at the time (he moved on to lead Simcorp’s subsidiary, Equipos/Simcorp Coric, in March 2014), said that Bluebay evaluated ‘all the options on the market’ before settling for Simcorp Dimension.
The new platform has replaced
Sungard’s InvestOne, which Andersen described as ‘an old system that lacks sup- port for the advanced asset classes that Bluebay is working with’. The old set-up was not automated, struggled to keep up with transaction volumes and was dependent on satellite applications accumulated by Bluebay. ‘It gets to a certain tipping point when it becomes too unmanageable, and you need to move to a modern platform,’ he commented. Bluebay has doubled in size over the
last six years, both in terms of assets under management and the number of invest-
ment strategies it manages. Today, it man- ages $58 billion, and hence required scala- bility and automation from its software. Luc Leclercq, Bluebay’s COO, is compli-
mentary about the new solution: ‘Simcorp Dimension gives us very strong operation- al functionality and scalability. It is closely integrated with our main business applica- tions and as such provides a fully integrat- ed solution.’ He adds that Bluebay now has ‘simplicity and flexibility’ within its opera- tions as well as ‘a timely and accurate over- view of positions and exposures across the investment activities’.
Tanya Andreasyan
Ehud Neor live with Probanx’s Coreplus core banking system
Tel Aviv, home of Ehud Neor © Shmuliko, Wikipedia
Nicosia, home of Probanx © Chris Savid, Wikipedia
Probanx and Coreplus:
fact file • Probanx offers variants of Coreplus for microfinance insti- tutions and online banking-only banks. The software uses a .Net platform and SQL server, since a rewrite from 2004 to 2006.
• Probanx as a company was found- ed in 2000, having grown out of Bankcom Consultants.
Ehud Neor, an Israeli money transfer company, has gone live with Cyprus-based Probanx’s Coreplus core banking system. Ehud Neor provides services to foreign
workers in Israel by offering short term loans and remittances to their home coun- try. The company has branches in all major cities and a ‘large group’ of field agents. The branches are connected in real- time to the Coreplus banking system
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using web services to Probanx’s data centre. Probanx says this provides detailed cash flow, cheque clearing, branch management, agent commissions, remit- tances, loans management and financial reporting. Probanx adds that Ehud Neor ‘plans to
expand further and offer additional finan- cial products of Coreplus in the near future’. Antony Peyton
© IBS Intelligence 2016
www.ibsintelligence.com
• The customer base of Probanx is far-flung, with 90% of clients abroad. These include micro- finance institutions, savings and loan organisations, retail, commercial, online and private banks in Sweden, New Zealand, Australia, Laos, Georgia, The Gambia and Nigeria.
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