State Street Bank International GmbH (SSBI) has agreed to expand and extend its partnership with SimCorp in Germany. Under the agreement, SimCorp will supply key technology components to SSBI for its accounting servicing, fund administration and data processing services that are provided predominantly to asset managers in Germany (KVG clients), including platform enhancements for corporate actions and processing of reference and market data. Additionally, SSBI will also leverage SimCorp’s Alternative Investments Manager solution that will further enhance SSBI’s accounting capabilities for alternative investments and provide automated intelligent document processing for its KVG business in Germany.
SimCorp and SSBI first entered into partnership in 2005. Beyond expanding the platform capabilities, the terms of the partnership have been extended with the current SaaS agreement now spanning an additional three years.