DST International says that Scottish Widows Investment Partnership (SWIP), which has outsourced fund administration duties to DST partner State Street, has gone live with HiReporting, its reporting solution.
DSTi says HiReporting will allows SWIP to automate monthly retail fund reporting for performance, valuation and marketing purposes. The firm adds that the next phase of HiReporting will allow SWIP to produce corporate pooled pension fund reports as well as risk and attribution reports.
“We are delighted with the progress of the HiInvest integration to date,” says Susan Ebenston, SWIP’s chief operating officer. “The HiReporting software allows us to automate the process, making our reports quicker, easier and more accurate to run.”
Steve Edkins, DSTi’s chief operating officer added: “Following closely on the recent go-live of our HiCompliance and HiMarketData products, this latest go-live is another significant milestone of the complete roll-out of HiInvest at SWIP. In addition it signifies the success of DSTi’s five-centre global development strategy whereby the specification was produced in Edinburgh, data analysis performed in London and the actual reports were produced in Bangkok.”
When completed, SWIP will have a full suite of front office products that are based on a fully “data cleansed and compliant” HiDataWarehouse. Initially, HiInvest will be deployed in SWIP’s offices in the UK, North America and Tokyo.
DSTi says SWIP’s main objective when purchasing HiInvest was to manage and control data more efficiently and flexibly. DSTi’s ‘one stop shop’ approach, with ready-built integration between products was one of a number of solutions evaluated.
SWIP will be using DSTi’s HiInvest product set, which includes data warehousing (HiDataWarehouse), order management (HiOrders), decision support (HiFrontOffice) and enterprise pre and post trade, compliance (HiCompliance), together with HiReporting, HiPerformance and HiMarketData.
SWIP has J73 billion under management.