Financial Risk Solutions, FRS, an industry leader in providing software to Life assurance companies has launched a new version of InvestPro which includes automated dealing, new reporting tools and improved productivity features.

As archaic dealing practices have plagued the investment administration sector for a long time, it is refreshing to now have the option to automate this area in an integrated single solution. This is essential for business success particularly in a volatile market, said Peter Caslin, CEO of FRS. That is why we have integrated innovative technologies into InvestPro to automate the dealing process.

InvestPro automatically creates trades; these trades are then automatically transmitted to the dealing counterparty using ISO9000 standard messages or in-house protocols. Trade confirmations are electronically received from the dealing counterparty using similar protocols. Separately, the system creates Dealing Tickets for investment managers who are not in a position to trade via an automated trading system. These can be faxed/e-mailed to the investment manager or administrator. Once deals are settled all results are stored in the database, date stamped and archived.

The software is enhanced with regular new releases yet there is one singular core application and development path. All InvestPro clients are entitled to the latest version of the system at their existing license fee structure so all clients have a future-proofed application.

In the third quarter of this year the Life & Pensions industry will see the first web services application of InvestPro which will allow usage of the system over the internet in a multi-site life company and third party administration environment. This, coupled with automated dealing is set to radically assist investment administration processing in the industry.