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Milestone Group, the specialist provider of optimised fund processing solutions to the global funds industry, announced that one of Europe’s largest life insurers, with over £100bn assets under management, has commenced implementation of its product pControl. The move brings substantial benefits as the firm looks to consolidate its business activities.
By managing multiple life books and business functions via a single funds processing platform, pControl will enable the firm to simplify and rationalise system architectures to reduce cost and operational risk. This supports a drive to realise efficiencies across the business.
pControl modules being implemented include: Cash Allocation and Rebalancing; NAV / Unit Pricing; Box Management; Unitised Order Management; Fee Rebate and Invoice Processing; Reconciliation; Market Data Validation and Data Manager. All of these modules benefit from pControl’s fully integrated data management, end-to-end process control and powerful exception management and validation capabilities.
“Margin pressures and the shifting regulatory landscape continue to alter the way in which the life market operates,” says Paul Roberts, Managing Director - Europe, Milestone Group. “pControl drives efficiencies and improves risk management across life insurance firms’ operations in these challenging times. Our transformational software offers a far more holistic approach to overcoming costly and opaque functional silos that have traditionally plagued the life sector, and this latest win builds on our growing international base of established pControl users in the life industry.”