IT provider Marlborough Stirling has officially changed its name to Vertex Financial Services today, although The Exchange will keep its name and VFS will remain headquartered in Cheltenham.
Acquired earlier this year by Vertex Data Sciences, part of FTSE 100-listed United Utilities, the name change reflects the parent’s aim of extending business processing outsourcing capabilities into new markets.
Also announced is the appointment of Andrew Colvin as managing director of VFS’ Life and Pensions business unit, effective from 14 November – where he joins from a previous position as UK head of insurance at software and services provider EDS.
The Exchange has “delivered solutions for 11 new multi-ties and protection panels for key distribution partners” since being acquired along with Marlborough Stirling in May this year, Vertex states.
Further outsourcing deals are expected in addition to the one done so far by VFS’ Mortgage business unit, Vertex adds.
Vertex says combining with Marlborough Stirling has created a business that is the only one in the market with both IT and outsourcing capabilities to manage open and closed book administration, new business acquisition in the life, pensions and investment markets, and distribution, point of sale, and application processing and servicing in the mortgage sector, Vertex says.
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