Skandia outsources admin to IFDS in 20-year deal

Jenna Towler
clock

Skandia, part of Old Mutual Wealth, is to outsource its administration to global IT and outsourcing firm International Financial Data Services (IFDS) in a 20-year contract.

Skandia said the deal, due to begin in 2016, would enhance the services it provides to financial advisers and customers in the UK. Adding outsourcing a number of its administration functions would improve its offering to advisers due to IFDS' superior technology. However, Skandia’s front office telephone and e-mail contact teams that advisers and customers interact with on a daily basis will remain in house. Old Mutual Wealth chief executive Paul Feeney said: “This relationship represents an investment in our business that will enable us to efficiently continue to improve the service ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Technology

Tech innovation could see client costs could fall by 'third in five years'

Tech innovation could see client costs could fall by 'third in five years'

‘Opportunity to transform cost of advice business’

Jenna Brown
clock 27 January 2023 • 4 min read
UK platform market 'walking into oblivion' without tech innovation

UK platform market 'walking into oblivion' without tech innovation

Delegates heard platforms are ‘overpriced for what they deliver’

Jenna Brown
clock 26 January 2023 • 3 min read
Transact partners with WBS for its electronic dealing solution

Transact partners with WBS for its electronic dealing solution

‘The partnership will help us achieve great execution prices for our customers’

Ayesha Venkataraman
clock 19 January 2023 • 1 min read