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:
- Increased operational efficiency through automated processes and exception-based reporting
- Faster and easier investment accounting and regulatory report production
- Scaling new products quickly and without additional overhead
- Robust oversight to support compliance and business resilience
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.”