Outsourcing and technology agreement

RNS Number : 1122L

Old Mutual PLC

07 August 2013

 



Old Mutual plc

Ref 63/13

07 August 2013

Old Mutual outsourcing and technology agreement for UK Platform

Old Mutual today announces that it has signed an agreement for International Financial Data Services (IFDS) to enhance the services provided by Skandia to financial advisers and customers in the UK.

The 20-year agreement will see a number of administration functions outsourced to IFDS and will enable Skandia to enhance its service and product offering for financial advisers by using IFDS' new processing services and technology.

The integration of IFDS administration, process and technology is due to start in 2016. Skandia will continue to develop its existing platform and services in the interim. The front office, with which financial advisers and customers interact, will remain with Skandia.

Paul Feeney, chief executive of Old Mutual Wealth, said: "This agreement will enable us to continuously improve the service we offer to financial advisers and their clients, introduce new products as well as meet our financial objectives.

"The IFDS technology will ensure that we can respond to adviser and customer needs faster than we can today and will result in new functionality and greater flexibility to be delivered to advisers via the UK platform."

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Kelly de Kock                            SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides life assurance, asset management, banking and general insurance to more than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2012, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £262 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com

 

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