Heartwood Investment Mangaement, the asset management arm of Handelsbanken UK, itself part of the Swedish Handelsbanken group, has selected the SimCorp Coric platform to serve it client communications and reporting needs.
The selection follows a two-year project, which sought to find a solution to demands placed on Heartwood as with other managers in the wake of Mifid II requirements. The platorm can provide faster access to more data, with clients able to access self-service tools including on-demand written commentary, rather than waiting for monthly or quarterly reports. The data and reports can now be accessed across multiple digital platforms including mobile, tablet and laptop environments.
IFAs in the UK market served by Heartwood should be able to provide improved illustrations to clients. The platform automates processes at Heartwood, to better leverage data without using more IT resources, according to SimCorp.
Matt Hollier, head of Investment Product, Heartwood Investment Management, said: "We are pleased to have entered a new digital era of reporting and communications to our clients. The introduction of dynamic reporting processes and self-service features delivered from our partnership with SimCorp Coric is a key requirement. With trust and transparency at the heart of our business strategy, we are committed to continually developing customer-oriented solutions to support our clients' needs. Our radical overhaul of client communications is part of this pledge, and a means to create lasting added value."
Hans Otto Engkilde, senior vice president & managing director, UK, Middle East and Northern Europe at SimCorp, said: "We are thoroughly pleased to have partnered with Heartwood on their innovative and client-focused project. The wealth management industry must re-shape its communications and reporting, with the adoption of digital channels, if they are to meet evolving demands, both now and in the future. The pioneering and digital approach taken by Heartwood, together with the ambition achieved in a remarkably short timeframe, has made them a beacon for the industry and a key reference client for SimCorp Coric. Going forward, we see client experience as the most important differentiator for investment managers. By transforming its digital strategy and empowering clients with market-leading communications, Heartwood will gain a clear competitive advantage."