Accenture Milan chooses Invest|ProT from FRS

10 April 2008

Irish company Financial Risk Solutions (FRS) has installed Invest|ProT for Accenture Insurance Services in Milan. The fund administration platform will allow Accenture Milan to manage unitised funds efficiently and securely for its clients.

Accenture Insurance Services Milan is a third party administrator (TPA) and specialist provider of outsourced services to the banking and life insurance industry. Investment administration system Invest|ProT is specifically designed for life assurance companies and their TPA's.

"Invest|ProT fully answers our clients' requirements for administering unitised funds business efficiently and securely," explains Mattia Longoni, Operations Director for Accenture. "We have a strong relationship with FRS and respect their expertise. We look forward to rolling out our service and gaining several new clients in the European Insurance market together."

The FRS system enables financial institutions to manage collective unitised funds, personalised portfolio bonds and self invested pensions. The system is one of the most widely used systems in a number of life assurance and wealth management markets.

"Life companies and finance firms in general increasingly want to focus on the distribution and manufacture of their products and not get caught up with the IT and complex fund administration activities of managing their books of business, this is precisely why we have built several relationships with third party administration providers," explains Peter Caslin, CEO FRS.

"We are very happy with this strong endorsement from a global brand like Accenture. With Invest|ProT the tough and complex aspects of fund administration are built into the system in as far as this is possible. We also welcome how this win strengthens our Italian client base and presence,"
adds Caslin.

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