The Central Bank of Sri Lanka has signed an agreement with SimCorp Asia Pacific. The CBSL will implement SimCorp’s flagship front-to-back investment platform, SimCorp Dimension, to manage the investment operation of the country’s official reserves.
The agreement aims to deliver the CBSL with increased operational resilience, improved automation and strong support of the bank’s investment strategy. The CBSL is evolving the bank’s operations, as it prepares for future growth. .
The platform will provide smooth running of its reserve operations and enhanced risk monitoring. A key feature of the selection is the implementation of SimCorp’s integrated Investment Book of Record (IBOR), which sits at the heart of the platform.
The IBOR will serve the central bank with a single source of accurate and timely data and a unified view across asset classes, empowering teams across the organization with full transparency for stakeholder reporting.
SimCorp’s automated investment solution includes advanced front office functionality, comprehensive compliance and performance, through to exhaustive investment accounting, covering IFRS standards. The solution will also handle all of the bank’s internally and externally managed funds and coverage of a wide range of instruments, from fixed income, to money markets and gold.
Increased automation throughout the investment lifecycle will create improved Straight Through Processing (STP) for the bank, eliminating data errors and reducing manual intervention, so that its resources can focus on more high-value tasks.
Oliver Johnson, Senior Vice President and Managing Director, SimCorp Asia-Pacific comments:
“We are pleased to welcome the Central Bank of Sri Lanka within our global client community. With an integrated front-to-back, multi-asset platform, continued innovation and a deep understanding of central banking needs, we have steadily grown the number of global central banks in our client community. The partnership with the Central Bank of Sri Lanka is a testament to this commitment and we are confident that our consolidated approach to investment management, will meet the bank’s long-term strategy and deliver the operational resilience it requires to grow prosperously.”
