Standard Life has gone live on SWIFTNet Funds using SystemCare from SMA Financial, SWIFT Regional partner for UK, Eire and Channel Islands.
Standard Life subscribes to SMAs SystemCare support package to ensure peak performance and efficiency of its SWIFT infrastructure.
SystemCare is a pre-planned preventative maintenance program consisting of on-site consultancy days and access to technical resources through SMAs dedicated call centre. SystemCare resources were used during the implementation of the SWIFTNet Funds messaging project.
Standard Life wanted to take advantage of the new message format to provide customers of FundZone, its mutual fund supermarket, with an enhanced service for advisers and customers on individual and group Self Invested Personal Pensions (SIPPs) to access over 1,000 funds via a secure and efficient channel.
SWIFTNet Funds uses the ISO20022 message format that standardises and automates various activities such as account openings and maintenance, orders and order confirmations, transfers, statements of holding and transactions.
The SWIFTNet Funds project was implemented on time and within budget and this was testament to the cohesive team that included Standard Lifes internal resources, SMA consultants and SWIFT representatives, says Scott Innes, senior architect, Standard Life.
SystemCare ensures that our resources can be focused on providing an IT infrastructure that meets the needs of the business. SMA has consistently provided a high standard of technical support and consultancy and we view their team as a trusted partner that we can always count on.”
“By maintaining the efficiency of our SWIFT infrastructure we can raise Straight Through Processing rates, lower our costs and decrease operational risk.
We are able to leverage our wealth of experience gained from 300+ SWIFT implementations to help our clients manage and maintain their own SWIFT infrastructure, says Simon Murby, managing director, SMA Financial.
L.D.