Back in December 2002, Barclays Life signed a three year deal for Icon with Thomson Financial, with an option to extend for a further two years, in a competitive tender process. In February 2003, the Icon product, staff and customer base were acquired by Linedata Services (UK) Ltd in a strategic move to establish Linedata Services as a major UK software supplier.
The Icon system, which Linedata Services has provided on a Facilities Managed basis, enables Barclays Life Assurance to continue to manage their Life and Pensions business. Barclaysâ project objectives included:
* To migrate from the Thomson Bureau system, which was used as a hub for managing Barclays asset holdings and investment accounting;
* To ensure that all interfaces are in place for all systems previously linked to the Bureau service;
* To leverage efficiency by using Icon's real-time update for investment accounting positions;
* To outsource technical requirements by using Linedata Servicesâ Facilities Managed and Disaster Recovery service.
Karen Gigg, Investment & Commissions Manager of Barclays Life Assurance Company Limited commented: âIconâs functionality and ease of use, will meet our requirements today and well into the future. We feel confident we have selected the right solutionâ.
Paul Roberts, Linedata Services (UK) Chief Operating Officer comments â There is a growing constituency of customers who have opted for Icon on a facilities managed basis, reflecting the general market trend towards outsourcing non-core activities to specialist providers.
It is becoming increasingly clear that itâs more than Iconâs functionality that sets it apart from the competition. Our attention and commitment to high levels of client support and experience of having completed over 20 Bureau conversions, together with Iconâs Facilities Managed option and disaster recovery service, are also key differentiators.â
Mike de Verteuil, Linedata Servicesâ Head of Business Development remarks âBarclays Life is an important client for us and I am pleased with the speed and efficiency of the migration to our Facilities Managed service. The acquisition of Icon and the other ex-PIMS products is an important strategic move by Linedata Services and our success in key accounts, such as Barclays Life, confirms that our confidence in the product is well founded.â