SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that Elo Mutual Pension Insurance company has gone live with SimCorp Dimension.
Founded in January 2014, Elo is a merger of Pension Fennia and Local Tapiola Pension Company. The market value of Elo’s investment assets is over 18 billion Euro.
SimCorp Dimension provides Elo with a high degree of automated processes and is flexible, adaptable and scalable to deal with both current and future market requirements. The integrated platform, with front- to back-office capabilities that taps into a single warehouse of high-quality position data across all listed asset classes, allows Elo to handle investment workflows more efficiently.
"Our goal is to be a strong and responsible employment pension player managing our investments to the highest possible standards. Looking at different vendors, we found SimCorp’s integrated front- to back-office solution to be ideal for providing the efficiency we need in our operations. We have been very impressed with the implementation, which was finished in only six months by SimCorp consultants in collaboration with Elo’s in-house specialists, as well as with the capabilities and performance of the system," said Sarianne Kirvesmäki, Director of Finance and Investment Risk Supervision at Elo.
Lau Jeppesen, Sales Director of SimCorp Nordic, said: "When merging, Elo has been wise not to integrate a number of different technologies, but instead invest in a fully integrated solution covering front- to back-office. Asset managers can no longer risk relying on legacy investment management systems. Elo has clearly recognized the need for a state-of-the-art, future-proofed solution to help the new company be on the forefront of the Finnish pension industry. We are pleased to partner with a pension company like Elo that embraces technology as an enabler of growth."