The Bank of Thailand, Thailand’s central bank, has selected SimCorp Dimension as its new investment management platform to support the reserve management and monetary policy operations of its USD226 billion reserves.
Leveraging SimCorp Dimension’s integrated IBOR (Investment Book of Record), the Bank of Thailand will use the system to manage its end-to-end business processes across all asset classes. The system will in particular be used to support financial risk management, performance and attribution, compliance, collateral management, settlement and accounting. With the implementation of SimCorp Dimension, the Bank of Thailand positions itself at the forefront of the emerging ‘whole office’ by eliminating artificial boundaries across the organisation and creating a more productive and informed environment to support key decision making.
Thailand is one of the most advanced emerging markets economies in the region. The Bank of Thailand’s acquisition of SimCorp’s best-in-class technology is a key element in realising its Internal Excellence Strategy, which among other aims to secure Thailand’s sustainable economic well-being. SimCorp Dimension sets the foundation for global best practices in investment management, essential to the bank’s mission of economic and financial development.
By integrating all operations onto a single system, the bank will have a unified view of assets for risk assessment and compliance at all times. Equally important, the cross-functional solution will enable The Bank of Thailand to establish higher levels of process automation, scalability and agility to adapt to new, complex market conditions and demands.
Dr Amporn Sangmanee, Head of Reserve Management Department, Bank of Thailand, says: “After an extensive vendor selection process, SimCorp Dimension proved to be the most comprehensive solution to meet our requirements for integration, automation and transparency, all on a single platform. The system will allow us to consolidate our system landscape to achieve improved investment management capabilities.”
Oliver Johnson (pictured), Managing Director of SimCorp APAC, says: “It is an honour to be selected for the long-term partnership with Bank of Thailand and to be able to welcome this esteemed institution to the SimCorp community. This agreement further strengthens our position as the leading provider of investment management solutions for central banks and sovereign wealth funds. The bank’s strategic decision is also a great example for many asset owners across Asia currently striving to improve their investment management capabilities in-house. Market complexity will continue to strengthen the insourcing trend in Asia and the push for a real-time, integrated investment management solution.”
