Financial Risk Solutions (FRS) Enters Australian Market
Dublin, Ireland – 23 April 2019 Financial Risk Solutions continues international expansion as it moves into the Australian investment administration market with it’s award-winning InvestPro™ solution.
Financial Risk Solutions (FRS), a Dublin-headquartered provider of unit-linked investment administration and compliance oversight software, is pleased to announce its entry into the Australian investment administration software market. This move builds on the firm’s 2018 expansion into Asia, and has been assisted by the recent acquisition of FRS by Constellation Software Inc., a leading provider of software and services to public and private sector markets globally.
Expansion driven by demand: FRS’s expansion into the Australian market has been driven entirely by industry demand for the InvestPro™ system, as many administrators and investment management firms prepare for the potential disruption caused by new technology-based entrants over the coming years. Demand has been based around InvestPro’s™ capacity to provide;
- Unit pricing
- Fund administration
- Automated cash allocation, rebalancing and trade order management
The company is currently in advanced talks with a number of new clients and will start work this month on-boarding InvestPro™ at one of Australia’s leading fund groups, which has a portfolio valuation of approximately A$10bn. The software is being delivered in a cloud deployment on Microsoft Azure locally in Australia.
FRS Managing Director Asia, Matthew Baldwin, said of the project;
“Unit pricing and fund admin projects can be complex. FRS is proud of its proven track record of delivering its InvestPro™ software within the agreed timeframe and at the agreed budgeted cost”.
He went on to say; “This move into the Australian market is incredibly exciting for everyone at FRS and culminates a period of growth, both in terms of geographical expansion but also AUM on the InvestPro™ system, which with our new clients in Australia will be above A$300 bn. Joining the Constellation family means that we have operational support, (which includes 1,800 staff operating in the Australian software industry), as well as associating our brand with theirs, which has an exceptional reputation throughout Australia and Asia Pacific.”
Part of the Constellation group:
FRS will benefit greatly from the significant presence Constellation Software Inc., (and it’s 100% owned operating group, Vela Software), have in the country. Constellation Software Inc. works in over 100 countries and with more than 125,000 customers’ worldwide. The company has established a broad portfolio of software businesses to provide customers and shareholders with exceptional returns.
Currently, InvestPro™ is the core investment administration system for over sixty firms including over 500 UK pension funds. In both 2017 and 2018 the InvestPro™ software suite was named the Insurance Asset Management Awards ‘Tech Firm of the Year’.
FRS InvestPro™ is a lead sponsor at the upcoming Sydney Unit Pricing conference on June 12th and at the Super Fund Back Office Operations conference also in Sydney in October.