HBOS to Use DSTi’s HiPortfolio/3, HiWay and HiMarketData

London – DST International (DSTi) - the leader in business solutions for the investment management industry - announced today that HBOS Financial Services (HBOS) - the UK’s largest mortgage and savings provider and major player in the provision of current and credit cards in the UK - has selected HiPortfolio/3, HiWay and HiMarketData for use across all of its insurance companies within the
HBOS Group. The solution will re-engineer its ‘end to end’ fund accounting and reporting processes, providing a consistent and reconciled source of data for management and financial accounting, regulatory and tax reporting.

David Morgan, HBOS’ business manager – asset management project, said, "We chose HiPortfolio/3, HiWay and HiMarketData because we believe it will minimise risk and operational costs. We will consolidate our IT infrastructure from multiple systems into HiPortfolio/3. HiPortfolio/3 will address the accounting and reporting requirements of all of our investment savings products that include; OEICS, with Profit/Non-Profit, Life and Pension funds. HiWay will help us link the solution to other companies within the group. HiMarketData will validate and verify external price data before it reaches HiPortfolio/3."

Mike Winn, DSTi’s CEO, said, "This sale proves the innate versatility of HiPortfolio/3. Many of our recent sales have been to Third Party Administrators who will use the product to handle multiple clients’ requirements. The sale to HBOS confirms HiPortfolio/3’s leadership position amongst those companies that choose to keep their own back office in-house. HBOS can also add other DSTi
products, such as HiWay and HiMarketData to help streamline their operations.
As David Morgan of HBOS says, 'This minimizes risk and operational cost'. What more can you want?!"

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