Rhyme Systems reports Friends Provident implementation

Source: Rhyme Systems

Rhyme Systems, a leading provider of asset management solutions, today announces that Friends Provident International has gone live on rhymeSIGHT Back Office to support their market leading Off-shore Bond operation.

rhymeSIGHT Back Office is a key module of rhymeSIGHT, a sophisticated multi-currency, multi-company investment management and accounting system. The product supports an extensive range of investment instruments and delivers a broad range of functionality including performance measurement, dealing and settlement. Among other capabilities, rhymeSIGHT Back Office provides a full suite of facilities to maintain and update customer information as well as a powerful range of enquiry and query tools. Additionally, the system supports a straight through processing capability for trades, corporate actions and dividends.

Graham Ashworth, Project Director for Friends Provident International, said, "We signed up to rhymeSIGHT to offer a single platform for investment administration for both SIPPs and Off-shore Portfolio Bonds. rhymeSIGHT Back Office allows us to cater for both new and existing customers' increasing requirements. By integrating rhymeSIGHT with our existing IT infrastructure we are able to enhance the service offered to our high net worth clients."

Stephen Young, Divisional Director of Rhyme Systems, commented, "With this go live rhymeSIGHT back-office has again proven to be a robust solution for the award winning Friends Provident International. rhymeSIGHT Back Office itself and rhymeSIGHT as a complete front-to-back system were expressly developed to provide comprehensive functionality while at the same time offering scalability and flexibility. We're confident that rhymeSIGHT Back Office puts Friends Provident International in a strong position to meet the demands of its growing business."

Friends Provident is a highly successful and fast growing company with £104 billion under management. Friends Provident International from its base in the Isle of Man operates in four key regions of Asia, the Middle East, the UK and Continental Europe. The business mix includes regular premium savings and protection plans single premium savings, investment and estate planning propositions.

Other rhymeSIGHT users include Coutts RBS, Generali International, Rathbones, Fairburn Private Bank and HBOS.

Rhyme Systems is part of 3i Infotech, a global Information Technology company which provides technology solutions to over 500 customers in more than 50 countries across 5 continents.

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