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Invest|Pro™ to power investment administration of Generation Life’s range of innovative investment solutions for the Australian market.
Melbourne, Australia – 5 May 2021 Financial Risk Solutions (FRS), provider of investment administration software to life and pensions companies worldwide, today announced Generation Life, an Australian leader in tax-effective investment bonds, has selected FRS’ Invest|Pro™ following a competitive tender as the investment administration software for its new investment-linked lifetime annuity and existing investment bond business. As part of the solution, FRS adapted its award-winning tax accrual software, Invest|Tax™, to comply with Australian tax rules.
The Invest|Pro™ software provides automated unit pricing, cash allocation and rebalancing, tax accruals, investment accounting and reporting for Generation Life. The solution provides advanced reporting and analytics, audit trails for all activity, email alerts and dashboard monitoring.
By using Invest|Pro™ Generation Life benefits from:
Grant Hackett OAM, Chief Executive Officer of Generation Life, said;
“In selecting Invest|Pro™ for the investment administration of our investment solutions, we get the most advanced technology today along with the confidence that the software will evolve with our business as we continue to grow. We are excited to get up-and-running with Invest|Pro™ as we expand our range of investment solutions to the Australian market.”
Peter Caslin, CEO at FRS, commented;
“As Australia’s leading tax-effective investment bonds company, Generation Life has an enviable reputation and sought modern, robust and scalable investment administration software that could support its growth plans. Drawing on FRS’ global expertise, our Invest|Pro™ technology will assist Generation Life in bringing a new investment-linked annuity to market with effective risk controls yet light human touch in the investment administration process. We are very proud to partner with them as they continue to grow and scale their business.”
Investment administration software Invest|Pro™ wins Advanced Technology categoryin Celent’s 2021 ABCD Rankings.
Dublin, Ireland – 27 April 2021 Financial Risk Solutions (FRS), provider of investment administration software to asset management, life assurance and wealth companies worldwide, today announced that Invest|Pro™ has won the 2021 Celent XCelent Awards for NAV Oversight and Contingency Tools in the coveted Advanced Technology category. The win comes at a time when operational resilience is under the spotlight from regulators, and companies are seeking robust software to limit exposure including financial and reputational risks associated with striking NAV’s.
The Celent NAV Oversight and Contingency Tools report, published last month by Research Analyst Andrew Schwartz, profiles 10 leading NAV oversight and contingency tools in use and being marketed for Asset Managers. FRS’ Invest|Pro™ was awarded in the Advanced Technology category for its breadth of features, including a continuous deployment model, which allow the system to reflect updates when new mandates come on-stream, or there are product changes.
The Celent report also spotlights FRS client feedback for Invest|Pro™:
“The main advantages are elimination of manual processes, data warehouse to run SQLs, excellent support, easy to upgrade, easy to launch new products and integrate to new systems.”
“This system is fully integrated with accounting and NAV calculations. The system is very good for interfacing with reporting applications, e.g., business objects.”
Invest|Pro™ produces lightning-fast NAV and unit prices and offers tight controls and comprehensive drill-down reports via a web-based analytics application. It calculates NAV and unit prices using the transactional database and checks against fund accounts data to provide a control check on the quality of the asset and liability valuations. Comprehensive auditable records of past valuations, independent of transactional data and exception-based reporting, provide a robust solution for governance, risk and compliance requirements both for firms and their outsourced administrators.
Frank Carr, Chief Marketing Officer at FRS commented;
We are honoured Invest|Pro™ has been awarded the Advanced Technology category for NAV Oversight and Contingency Tools in the 2021 Celent XCelent Awards. As a technology company we are committed to raising oversight and resilience standards in the industry and supporting our clients with the latest technologies and automated processes to help them navigate the ever-changing challenges of growth, regulatory pressures and competition in the market.”
Download the Celent 2021 NAV Oversight and Contingency Report here.
Learn more about Invest|Pro™ Fund Performance Oversight here.
Manufacture funds and automate multiple complex fund administration processes, manage oversight and regulatory reporting.
Deliver robust, scalable fund and investment administration services with real-time oversight of operational activity.
Grow distribution by empowering advisors and clients to manage assets, transact and view valuation statements.
Reduce operational costs, increase efficiencies and mitigate risk with continuous oversight of fund manufacturing.