Source: DST International
DST International (DSTi), the leader in business solutions for the investment management industry, announced today that Friends Provident plc (Friends Provident), one of the UK's leading financial services groups, will begin migration to HiPortfolio/3, DSTi's future proof back office solution towards the end of this year.
James Crawford, Friends Provident's manager of Finance Systems, said, "We chose to move to HiPortfolio/3 because it is a flexible, scalable system and there was an opportunity to tailor the functionality to better suit our current needs. Friends Provident's asset managers, F&C, no longer use the same database as they purchased their own version of HiPortfolio/2 two years ago, and consequently FP no longer require some of the modules that were purchased as part of the original system. HiPortfolio/3 also offers other significant value adds such as Online Backup and Point in Time Recovery which will help to reduce our operational risk and there is an opportunity for improved reporting via the Reporting Data Mart."
Mike Winn, DSTi's CEO, said, "Friends Provident is one of a growing number of institutions that have decided to migrate up to HiPortfolio/3, further establishing the product as the back office system of choice. DSTi's aggressive R&D programme has ensured HiPortfolio's flexibility and functionality remains unmatched. It enables clients like Friends Provident - whose needs change over time - to remain confident in their initial investment in the system and be assured that HiPortfolio will change with them whilst remaining the market leader. HiPortfolio/3 can be used for both asset management or investment accounting and Friends Provident is the 31st client of ours that has committed their future to HiPortfolio/3."