London 6 July 2004: Rhyme Systems today announces the signing of a new Quasar 6 software contract with Generali International Limited, based in Guernsey and Ireland.
With over 20 years of experience in the offshore sector, Generali International offers a wide range of personal financial products for the international investor. These include savings, investment, retirement, income and protection products, with established brands such as Vision and Professional Portfolio.
Quasar includes investment-modelling functions to support collective investments instruments and has a large installed base of mainly UK investment management firms. Clients include M&G, Jupiter, Newton and Coutts.
"Generali is constantly looking for ways to improve its service. The innovative integration layer within Quasar 6 enables high quality reporting and improved Internet functionality for its clients. In addition, Quasar 6 improves workflow and business efficiencies," explains Paul Bebber, Account Manager, Rhyme Systems.
Rhyme Systems specialises in helping UK and international investment firms unlock the hidden value of the back-office. Rhyme was created in November 2003 as a result of a management buyout from Misys PLC, funded by private equity specialist Primary Capital.
Ian Hallam, Rhyme Systems' Product Centre Manager, says: "Generali wanted a modern system with advanced functions such as management fee remodelling. We are delighted that our significant efforts and investment in upgrading Quasar to provide advanced integration and data interrogation capabilities is proving to be of significant benefit to our clients. The new architecture with easy, true thin-client deployment and efficient input and throughput capabilities were also significant factors in helping Generali make their decision. We are excited at the prospect of continuing to develop our product lines in conjunction with our blue chip clients, such as Generali."
Generali International is wholly owned by Assicurazioni Generali S.p.A. The Generali Group has an international presence across five continents, operating in some 40 markets. Generali's success is reflected in it being ranked a top fifty company by the 2003 Fortune Global 500, with assets under management in excess of 270 billion euros. The Group offers protection against all risks from simple cover for an individual to large industrial insurance. Generali covers civil engineering works, computer networks, and the insurance of space missions in which Generali was one of the pioneers and is now the world leader.
"Rhyme Systems was more than willing to prove the new functionality and specific business processes. Improved data access is key - Quasar 6 enables us to extend the product's use within the organisation and to realise tangible business benefits. Rhyme was also keen to dispel our migration worries and future-proof our investment. For instance, they very quickly developed new interfaces and reports that were of immediate business benefit
to us," says Paul Gillett, Head of Investments, Generali International Limited.