RBS Collective Investment Funds Limited (RBSCIFL), a wholly-owned subsidiary of National Westminster Group (NatWest), has renewed and expanded its transfer agency contract with SS&C Technologies.
As part of the expansion, RBSCIFL migrated over 700,000 child trust funds (CTF), 36,000 individual savings accounts and 20,000 junior investor savings accounts (JISA) to SS&C Global Investor and Distribution Solutions (GIDS).
The consolidation of these investor portfolios onto SS&C’s technology and servicing platform, GIDS, will allow RBSCIFL to modernise its operations.
Following the migration, multiple new digital servicing channels will be introduced by RBSCIFL, including a mobile-friendly CTF maturity process, the Digital Investor portal, mobile applications, webchat and secure messaging.
“We are pleased to extend our long and valued relationship with RBS Collective Investment Funds. We will consolidate over 800,000 investor portfolios onto our single technology and servicing platform, streamlining and modernising RBSCIFL’s operations in the process,” said Spencer Baum, senior director, head of client service & relationship management, SS&C GIDS.
“We are providing RBSCIFL with the tools to meet the evolving needs of their retail clients and engage with the next generation of investors.”
This latest mandate extension adds to SS&C’s impressive list of new transfer agency mandates for its UK business.
Last year, SS&C won several high-profile transfer agency servicing deals in Europe from the likes of Aberdeen Standard Investments, Janus Henderson, Conbrio Fund Advisors, Eurizon and American Funds Service.