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Sowatec AG and KPMG Services start strategic cooperation to offer hosted software service in Luxembourg

In August 2016 Sowatec AG ("Sowatec") and KPMG Services S.à r.l. Luxembourg ("KPMG Services") have agreed on an alliance, the aim of which is to provide a special Software Service for fees and revenue management as well as for regulatory reporting, offering Software as a Service ("SaaS") and Processes as a Service ("PaaS").

The web-based SaaS and PaaS solutions allow customers to benefit from a broad range of functionality, custom-tailored to specific requirements, without the need to maintain their own infrastructure. The software is hosted by KPMG Services, a Luxembourg-based regulated professional service provider operating under supervision and licence from the Commission de Surveillance du Secteur Financier (CSSF).

Together with KPMG Services, Sowatec will provide their customers reliable fee and process management software, which meets the highest industry requirements of availability, security and confidentiality while providing the flexibility of customized solutions tailored to the needs of the client.

The service will predominantly be available to financial companies operating in Luxembourg and other EU-countries, including asset managers, custodians, private banks, transfer agents, clearing houses and other financial service providers.

Sowatec is a software provider and consulting company specializing in sophisticated solutions for the fund and finance industry. Sowatec designs and implements configurable, rules-based business applications and ensures that sophisticated business processes are highly automated and easier to integrate. Sowatec has established itself as a competent partner in Switzerland, Germany and Luxembourg in the areas of fees, process, data management and/or integrity.

KPMG Services S.à r.l. is a Luxembourg private limited company and a member of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Being a regulated entity, KPMG Services is a top-tier provider of IT Solutions and Managed Services on the financial sector.

You want to know more about our hosted software service? Please contact us under +41 44 952 55 55.