Thomson Financial is to offer clients its Icon family of products covering back office fund management and administration on an application service provider (ASP) basis.
Icon provides real-time investment accounting, portfolio valuation, collective investment pricing and management/client reporting for securities and currencies in all types of fund.
The Icon ASP delivery mechanism will provide clients with operational freedom, security and disaster recovery, says the company, by enabling them to devolve the IT and routine system administration to Thomson Financial.
The ASP solution is installed on Thomson Financial equipment housed in Thomson Financial offices.
Three clients, including Windsor Life Assurance, have already signed up for Icon ASP. It is anticipated the ASP solution will reduce fixed costs and overall expenditures for hardware, applications and management, as well as reducing risk.