SimCorp partners with 2021.AI to explore opportunities for machine learning development and innovation

SimCorp A/S collaborates with 2021.AI to investigate and leverage AI and machine learning (ML) opportunities for SimCorp’s products and services.

SimCorp A/S, an industry-leading, front-to-back investment management solutions provider, has partnered with 2021.AI to explore the adoption of AI and ML internally and for SimCorp clients. The partnership commenced with developing an initial proof of concept and exploring several projects across SimCorp, with the common goals of embedding AI and ML into new and existing products and services.

“At SimCorp, we pride ourselves on innovation — a trait shared by 2021.AI, who are well positioned to help us fast-track our work with AI and machine learning,” said Christian Kromann, CEO of SimCorp. “We have seen strong potential from our initial collaborations, and the next step for us is to now evaluate and assess.”

“We are delighted to partner with SimCorp, as it is our ambition to work with the best and most respected technology companies,” added Mikael Munck, CEO and founder of 2021.AI. “We look forward to jointly exploring new ML and AI solutions and services for internal use at SimCorp and towards SimCorp’s end clients.”

As an initial collaboration, SimCorp and 2021.AI have developed a proof of concept for a deep learning model to detect and resolve root causes of errors provoked during software upgrades. The model is intended to save manpower during software upgrades by automating time-consuming, tedious tasks that would otherwise require a large workforce to complete.

With promising prospects from this initial joint project, the two companies will now investigate the further potential for subsequent collaborations through various formats.

About SimCorp

SimCorp A/S (Nasdaq Copenhagen: SIM) is a Danish company providing software and services to financial institutions such as asset managers, banks, national banks, pension funds, sovereign wealth funds, and insurance companies. Its core product is the SimCorp Dimension, a front-to-back integrated investment management system used by more than 190 clients worldwide.

Headquartered in Copenhagen, SimCorp was founded in 1971 and has offices in over 20 locations throughout Europe, Asia, and North America. SimCorp employs 1800+ workers.