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Dublin, Ireland - 31 May 2018 Following on from our recent expansion in Asia, where we now have offices in Hong Kong and Kuala Lumpur, chief marketing officer Frank Carr sat down with Asset Servicing Times magazine to discuss what prompted the move into Asia, and how technological innovations such as AI and machine learning are transforming unit pricing and investment administration at financial services firms both in Asia and closer to home.
Read the full interview here: Asset Servicing Times - The Asia Attraction
Dublin, Ireland - 25 May 2018 We are pleased to be the main sponsor of the Unit Pricing 2018 Forum in Sydney, Australia which is taking place on 21st – 23rd May 2018. The conference is specifically for executives working in the unit pricing, tax, audit, finance, risk and compliance areas of superannuation funds and the managed funds industry. Since 1992 when superannuation schemes were introduced, Australia has become one of the best-funded countries in the world in terms of retirement income, with more than $2 trillion AUM and significantly growing from mandatory contributions.
After our recent successful expansion into Asia, Australia is a key target geography for FRS and our core investment administration solution, InvestPro, is well placed to meet the needs of the Australian market. If you are attending the conference, and wish to meet with the FRS team, please email email@example.com directly.
As Emerald Isle strengthen ties with Hong Kong, Dublin based insurance software company expands in East Asia
Hong Kong - 12 March 2018 Financial Risk Solutions (FRS), a Dublin-based provider of unit-linked investment administration and compliance oversight software, was joined by An Tánaiste, Simon Coveney TD to open their Hong Kong office at International Commerce Centre. It marks their second location in Asia, as the company expands to match regional growth in the life insurance industry.
Matthew Baldwin, Head of Asia, Financial Risk Solutions commented “It is a privilege for FRS to have the Tánaiste, Simon Coveney TD open our new Hong Kong office. This marks a exciting time for the company as we expand further to service our clients in Asia’s thriving life insurance market”.
Statistics released by the Insurance Agent Registration Board (IARB) showed that in 2016, the total gross premiums of the Hong Kong insurance industry increased by 20.7 percent to $451.7 billion. Research published from Munich Re puts growth in Asia’s emerging markets at above 10 percent for 2017-2018. The same research placed Asian market share of the global insurance industry at 21.4 percent by 2025.
Baldwin continued “Our Robotic Process Automation (RPA) fund administration software has been well received with regional life insurers. We are extremely encouraged by this response in the large populous Asian markets, where pensions are a huge agenda point for both government and individuals making appropriate provision for their old age.”
Further announcements are expected from the company as FRS is engaged with six leading life companies across China, Indonesia, Thailand, the Philippines, Malaysia and Singapore. The opening comes amid the month long Hong Kong and Macau Irish Festival, also known as the March of the Irish. It celebrates Ireland culture along with developing business and investment links, with activities centred around Ireland’s national day, St. Patricks Day on March 17th. It also comes on the heels of Cathay Pacific announcing direct flights from Hong Kong to Dublin four times a week. FRS previously announced the opening of their South East Asian headquarters at Menara Darussalam, Kuala Lumpur.
Disclaimer: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Dublin, Ireland - 1 February 2018 We are pleased to be sponsoring the ‘Insurance Innovators: Indonesia 2018’ conference, which is being held in Jakarta 13 - 14th February, and both CMO Frank Carr and Head of Asia Matt Baldwin will be attending. Indonesia is arguably the most exciting insurance market in the world, with a large and rapidly growing population ready to take advantage of new services offered in the digital age.
This conference aims to bring together key stakeholders to share knowledge and forge relationships, between established providers and challengers, local companies and global corporations, the huge incumbents and the newer entrants investing. Speakers include Alex Kimura, Chief Strategy Officer at Aviva Asia, Philippe Danieleski, President Director at Zurich Indonesia and Frank who will be speaking on InsurTech and FRS’ experience of automating investment linked fund administration globally. If you’re also visiting the conference, please drop Matt an email at Matthew.Baldwin@frsltd.com.
Dublin, Ireland - 29 January 2018 Financial Risk Solutions’ Governance, Risk and Compliance solution, InvestGRC™, has been named as a finalist in the category ‘Best Risk Management Solution’ in the 18th annual FStech Awards.
Financial Risk Solutions (FRS), a Dublin-based provider of unit-linked investment administration and compliance oversight software, is pleased to announce that its governance, risk and compliance offering, ‘InvestGRC™’ has been named as a finalist in the annual FStech Awards.
Now in their 18th year, the FStech Awards, hosted by FStech Magazine, are the showcase for excellence and innovation within the UK and EMEA financial services sector and award entries come from financial services institutions and technology suppliers which are leading the way in such areas as;
InvestGRC™: A market-leading RegTech solution: InvestGRC™ is an award-winning* solution which aggregates asset positions and other relevant compliance and risk management data and automatically produces Solvency II quantitative reporting templates (QRT) on a client-specified frequent basis.
It also allows Insurers to conduct their own risk and solvency assessments on their investment-related business. Importantly, since mid-2017 InvestGRC™ has included the automated production and publication of complex Key Information Documents (KIDs) in relation to the PRIIPs (Packaged Retail and Insurance-based Investment Products) which came into force earlier this month.
InvestGRC™ completely meets the requirements of fund administration in one system available in three different software delivery models, namely;
Chief Marketing Officer at FRS, Frank Carr said; “We are delighted that InvestGRC™ has been named as a finalist in the FStech Awards, and continues to gain recognition within the industry as a market-leading RegTech solution.” “In discussions with the industry last year, we found many companies were directly impacted by stringent PRIIPs regulation coming into effect from Jan 1st 2018, and it was decided that InvestGRC™ must include the PRIIPs module. Uniquely our software caters for the complex requirements of both fund of funds PRIIPs and open architecture wrapped products.”
The winners will be determined by an independent judging panel and announced at the renowned FStech Awards Gala and Dinner on 22 March 2018 at the London Marriott Hotel, Grosvenor Square.
Dublin, Ireland - 11 December 2017 Financial Risk Solutions (FRS), a Dublin-based provider of unit-linked investment administration and compliance oversight software, is pleased to announce they have won ‘Technology Firm of the Year’ at the inaugural Insurance Asset Management Awards.
The awards celebrate excellence in the UK and European investment industry and have been designed to recognise outstanding achievements in the UK and European insurance investment space among;
The award winners were determined by an independent judging panel and announced at the Gala Dinner at the Millennium Hotel, London Mayfair. Judges included;
Chief Marketing Officer at FRS, Frank Carr said; “It’s fantastic to receive this recognition from the Insurance Asset Management Awards, and rounds off an exceptional year for Financial Risk Solutions. The ongoing success of the business is underpinned by our commitment to technological innovation and our reputation for market-leading software solutions.”
He went on to say, “Our Invest|ProTM fund administration software enables automated processes and oversight, controlled by comprehensive rules and exception reporting. This is extremely valuable for many life assurance companies and asset managers today in assisting them with their increasing administration, reporting and compliance demands while supporting their growth objectives.”
In 2017, Financial Risk Solutions has also been shortlisted for the following awards;
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.