Demark-based SimCorp has adopted the cloud computing software Microsoft Azure across its external solutions and services.
In what has been called a “significant” step in its cloud transformation strategy, the move will see new integration of the software provider’s front-to-back investment management platform.
Following the move, SimCorp is now able to offer its integrated investment management system Dimension as a service, with the optionality of using either private cloud technology with current hosting partners, as well as public cloud with Azure.
The development comes as a response to current global market conditions, increased competition and regulation placing high demands on buy-side operations, according to the firm.
Georg Hetrodt, SimCorp’s chief product officer, said: “The cost savings, significantly decreased CO2 footprint and increased flexibility we have witnessed from our internal migration as an organization, were key in the decision to select Microsoft Azure.”
The adoption of Azure follows the company’s internal migration of IT operations and services to the cloud computing software, which first began in 2019.
According to Scott Guthrie, executive vice president of Microsoft’s cloud and AI group, bringing SimCorp Dimension as a Service to Azure will allow institutional investors to better serve clients in terms of efficiency and scale.
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