GlobalCapital, Malta's leading provider of financial services, has selected another class-leading solution from BSB, choosing the Soliam solution to run its investment and wealth management activities, and manage its insurance-linked funds.
GlobalCapital is adopting an integrated approach with its deployment of BSB's Soliam and Solife solutions, providing both asset management and insurance policy administration. Soliam and Solife will be implemented in the course of 2013, replacing GlobalCapital's current four systems to fulfil the same activities and support business expansion.
GlobalCapital announced its acquisition of BSB's Solife life insurance portfolio administration system in August. Installing the Soliam solution represents a logical progression, as Mr Bashar Khatib, CEO of GlobalCapital explains:
"We are very excited about the technical, cost and vendor synergies to be derived from this collaboration with BSB, building a partnership at many levels. Soliam and Solife are two best-of-breed systems, providing us with unparalleled functionality. The ability to integrate them across asset management and insurance policy administration is, we believe, unique - enabling us to replace four vendors with just one and implement a truly advanced platform strategy."
"GlobalCapital's decision is very forward-thinking, shortening the implementation time for a new system and providing strong economies of scale," said Jean Martin, CEO, BSB. "Our Solife and Soliam solutions combine to provide full operational coverage of core insurance processes matched by comprehensive asset management facilities".
Soliam is a single platform that enables asset and wealth management institutions to improve the efficiency of their front, middle and back office activities. Its multi-entity/ -currency/ -custodian and accounting features reduce operational costs, improve control over operational risks and facilitate business growth. Solife enables insurers to manage every aspect of their life insurance administration activity, from distribution via eSolife's web front-end through to claims management.