Brown Shipley, a private bank in the U.K., has gone from a manual client reporting system to a platform from vendor SimCorp in a bid for greater operational efficiency, officials say.
Brown Shipley officials confirm via a press release that by deploying the SimCorp Coric Client Communications system they have “significantly reduced the manual effort required to generate and validate client reports.” This improve the firm’s operational efficiency and helped client services teams spend more time on client-facing engagement than reporting-related administration, bank officials say.
In the U.K., Brown Shipley has client offices in London, Manchester, Birmingham, Leeds, and Edinburgh. The firm provides core wealth management services for high net worth clients, comprising investment and fund management, self-administered pension schemes, estate planning and banking services.
Matthew Lucas, head of transformation, Brown Shipley
“Brown Shipley prides itself on the relationships it maintains with its clients and having a full appreciation of their needs,” says Matthew Lucas, head of transformation at Brown Shipley, in a prepared statement. “Our approach is about finding solutions to effectively accommodate changing client requirements, embracing technology innovations where appropriate to ensure those requirements are met.”
Brown Shipley is using SimCorp Coric to generate approximately 10,000 half-yearly client reports, vendor and back officials say. The firm’s parent company, KBL European Private Bankers, heads a network of private banks with assets under management in excess of €44 billion ($49.2 billion).
The decision to implement SimCorp Coric is part of Brown Shipley’s “continual commitment to client service and to providing tailor-made solutions in response to clients’ needs,” bank officials say. “As part of the implementation, Brown Shipley’s private client reports were re-designed and enhanced to present portfolio valuation data in a clear, professional and more readable format.”
SimCorp Coric is client reporting and communications suite targeted to buy-side firms to automate the client reporting process and for the creation of reports, without technical assistance.
SimCorp offers investment and portfolio management software and services.
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