The latest technology news in the wealth management sector from around the world.

GAM, SimCorp
GAM Investments has signed a new-long term licence agreement with investment management solutions provider SimCorp. GAM will partner with SimCorp to consolidate its external front and middle office systems onto one platform. 

SimCorp Dimension will serve as GAM’s core front-office platform and investment book of record, supporting portfolio and order management, risk, compliance and performance management. GAM will also use SimCorp Gain for enterprise data management, while SimCorp Coric will serve as its new client communications and reporting solution, GAM said in a statement yesterday.

GAM said it is building on an existing SimCorp relationship, having worked with that business since 2004. The transition to SimCorp’s platform, which manages $19 trillion in assets under management globally, will begin in January.

“Reducing complexity remains a priority at GAM and consolidating our front and middle office systems is an important step towards achieving this. SimCorp is an industry leader and its single platform solution is best suited to the future direction of GAM and will move GAM’s technology platform to a best-in-class model. Transitioning to a fully integrated solution will not only enhance our clients’ experience of doing business with us, most visibly through an improved reporting experience, but will also increase operating effectiveness and efficiencies,” Peter Sanderson, group CEO at GAM, said.

Temenos
Swiss-listed Temenos, the banking software company, said this week it has “delivered new industry first” banking distribution services as part of the Temenos Infinity digital front-office banking product. 

The firm offers the following services under its Temenos Infinity range: Onboarding; a marketing catalogue; real-time engagement for marketing; multi-party services; holdings and arrangement services, and payment initiation. 

“Last year we launched Temenos Infinity and Temenos T24 Transact to offer banks more choice in how they wish to transform and today we are launching another Industry first with the delivery of API and microservice based distribution services in Temenos Infinity,” Max Chuard, chief executive, Temenos, said.

Temenos Infinity is available on premise, as a software-as-a-service offering, or in the cloud via Microsoft Azure, AWS and Google Cloud. Temenos Infinity can be deployed alongside any core banking system or pre-integrated with Temenos T24 Transact, the core banking product.