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Friends Provident signs up for rhymeSIGHT

Rhyme Systems today announces the latest signing for its investment platform, rhymeSIGHT, with leading UK financial services group, Friends Provident, taking on a five-year contract for the asset management software.

rhymeSIGHT is an integrated investment administration platform. It supports the entire front to back office operation and is built around a single, core database.

Cheryl Redgewell, account manager at Rhyme Systems, added: “By implementing rhymeSIGHT, Friends Provident continues to build upon its reputation for leveraging IT investment in leading-edge systems. rhymeSIGHT will enable Friends Provident to gain from tangible benefits in standardised asset servicing, straight through processing and enhanced integration and connectivity.”

Friends Provident is a member of the FTSE100 Index, with three core businesses: UK Life & Pensions, International Life and Pensions and Asset Management. The International Life and Pensions division already has a long established relationship with Rhyme for the provision of the Investment Administration element of the hugely successful Offshore Insurance Bond products.

Stephen Young, director of Rhyme Systems, commented: “Rhyme is pleased that Friends Provident will be implementing rhymeSIGHT as the group-wide standard platform for Investment Administration which supports various businesses within the Group. Friends Provident is an established name in the market and continues to demonstrate strong growth. Rhyme is very excited about being part of that success.”