MGM Assurance takes control with Linedata Services' Asset Management Icon ASP solution

London, 17 February 2004 - Linedata Services, a leading provider of software and services to the global financial services marketplace, today announced that MGM Assurance (MGM) has selected Icon ASP, part of its leading back-office system.

MGM had taken the opportunity in 2003 to conduct a comprehensive review of the solutions available in the market. Its key objectives were to find a system capable of meeting its present and future valuation and investment accounting requirements, maximising its operational efficiency and offering best value for money.

Rob Hansford, Senior Finance Manager at MGM, said, "We looked at a number of systems and their different deployment options. MGM already has a very efficient back-office, which greatly reduces the financial benefits of outsourcing.

"I had seen a demonstration of Linedata Services’ Icon product previously and was impressed with its functionality," continued Hansford. "We were particularly interested in Linedata Services’ Icon ASP offering as it provides the answer that MGM as a business have identified it needs moving forward. In addition, there is no hardware or IT administration for us to manage."

Linedata Services’ Icon customers hold a User Group twice a year. This is run by them and provides a forum for the discussion of any specific issues and future requirements. Paul Roberts, Chief Operating Officer at Linedata Services, commented, "MGM was invited to attend one of these meetings so that they could speak with other Icon users and get an insight into existing customers’ perspectives on the product. I am delighted that MGM has selected Icon ASP and I am looking forward to seeing them at future User Groups."

Hansford concluded, "We selected Linedata Services because it offers such a long-term, complete solution. I believe that it will be a good fit for MGM."

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