According to a recent press release, “SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announces the launch of Datacare, a new managed data service for the global buy side. Developed in collaboration with Zurich Insurance Group (Zurich) and global buy-side institutions from the SimCorp Gain client community, Datacare* combines state-of-the-art technology and a managed service, providing a highly automated, multi-asset, front-to-back solution for market and reference data management. Powered by SimCorp Gain**, Datacare tackles a substantial gap in available solutions that holistically offer operational efficiency, data advisory and multi-asset class coverage in one data management solution. SimCorp’s managed service delivers ready to use, validated data for business operations, relieving the expensive, time-consuming and distracting data headache firms face today, as they struggle to compete in already tough market conditions.”
The release continues, “Several buy-side institutions within the SimCorp Gain client community, including Zurich’s three-digit billion Investment Management arm, have played an active development role in the solution. Like many buy-side operations, the investment management unit of Zurich has faced a variety of pressures from handling more complex and specialized multi-asset data, across multiple countries and regulatory jurisdictions. This, together with proliferated sources of market data in the front office, has led to a significant shift, increasing the complexity of buy-side operations. Core to this complexity, is data management and maintenance, with firms grappling to attain a trusted audit trail and reliably act on their data. At the same time, a multitude of changing operational and regulatory data requirements are preoccupying data operations teams, making it difficult for firms to focus on more value-added tasks, such as advanced analytics.”
Read more at simcorp.com.
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