AT A GLANCE
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Client Profile
US Trust Company
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AUM
$65bn
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Core Service
Improve Accounting Processes in existing SimCorp One installation
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Key Outcome
Significant Operational Improvements
Transformation Challenges
This case study details how Dimensional Community helped a large Trust Company in the US fully implement SimCorp as their investment accounting platform.
The firm struggled to retire their legacy system because of unexplained fixed income irregularities, specifically concerning amortization and accrued interest, when comparing the legacy outputs with SimCorp's.
This core challenge was intensified by poor user adoption as end users could not effectively operate the platform or understand its outputs and the underlying data quality issues due to a lack of controls and dedicated resources.
Comprehensive Solution
Dimensional Community implemented a comprehensive solution by conducting a thorough review of the SimCorp setup, providing strategic recommendations, and meticulously correcting all fixed income and accounting irregularities.
This transformation resulted in significant operational improvements with a 97% reduction in system issues, leading to a more reliable platform.
The firm also achieved full self-sufficiency and an 85% reduction in reliance on external consultants, significantly lowering operational costs.
Finally, the project established streamlined operations and empowered users through a training program that now serves as a central resource for onboarding and upskilling.