Colonial First State enhances operational capabilities with expanded use of SimCorp One platform
- Replaces multiple legacy systems with the comprehensive end-to-end SimCorp One platform.
- The expanded use of the SimCorp One platform includes solutions for Accounting, Tax, Unit Pricing, and General Ledger.
Sydney, New York – October 2, 2024 – SimCorp, a leading global financial technology company, today announced the strategic expansion of its relationship with the Australian wealth management group Colonial First State (CFS) that will further strengthen CFS’s operational capabilities by increasing its usage of the comprehensive end-to-end SimCorp One platform.
Following their successful migration to the cloud in October 2023, CFS has integrated SimCorp solutions for Accounting, Tax, Unit Pricing and General Ledger. The successful transformation streamlines operations and allows CFS to replace multiple legacy systems with the comprehensive SimCorp One platform, which covers every step of the investment lifecycle. As one of Australia's leading wealth management companies, CFS manages and administers over AUD 150 billion on behalf of almost one million Australians.
Tania Foster, Group Executive Finance and Fund Services at CFS, said: “Our partnership with SimCorp has been instrumental in our operational transformation. The expansion of the SimCorp platform allows us to streamline processes and enhance service delivery, ensuring we meet the needs of our members and the financial advisers we work with. We are excited about the future and the capabilities this brings to our organization.”
Edward Bee, Managing Director of SimCorp APAC, added: “As the Australian superannuation sector continues to evolve, superannuation funds across the market have been looking for how to modernize their current systems to enable them to future-proof their workflows amid the growing complexity in the investment management landscape. This go-live and expansion of CFS’s use of the SimCorp One platform represents the culmination of that vision and effort and now enables both CFS and SimCorp to better serve the Australia market today and in the future."
About SimCorp
SimCorp is a provider of industry-leading integrated investment management solutions for the global buy side.
Founded in 1971, with more than 3,000 employees across five continents, SimCorp is a truly global technology leader that empowers more than half of the world’s top 100 financial companies through its integrated platform, services, and partner ecosystem.
SimCorp is a subsidiary of Deutsche Börse Group. As of 2024, SimCorp includes Axioma, the leading provider of risk and management and portfolio optimization solutions for the global buy side.
About Colonial First State
CFS is a diverse superannuation, wealth management, retirement and investment business that manages and administers over $150 billion on behalf of almost one million Australians. As one of Australia’s leading superannuation providers, CFS is committed to delivering strong, long-term performance, low fees and simple access to a wide variety of investment options from the world’s leading investment managers.
Media Contact
Morten Steen
Global Communications Manager at SimCorp
+45 20 19 41 05
