DST International has signed an agreement with one of Scotland`s largest investment companies, Scottish Widows Investment Partnership (SWIP), for a full suite of integrated front-office products, Hilnvest, including a full set of data management tools.
SWIP`s main goal was the ability to manage and control data more effectively and flexibly. DSTi`s one-stop-shop approach, with ready-built integration between products, was one of a number of solutions evaluated. DSTi`s product range, together with its commitment to ongoing investment in their development, along with its strength and stability, won it the contract.
Mike Winn, group MD of DSTi, comments: "We have signed a deal for an initial five years for support and maintenance but, as with all our clients, we see our relationship as very much for the longer term. A key element in winning this business was the integrated nature of our solution, along with meeting all of SWIP`s business functional requirements. SWIP was our 10th sale of HiInvest in 2002."
SWIP will be using DSTi`s HiInvest product set, comprising order management, decision support and enterprise (pre- and post-trade) compliance modules, together with HiReporting, HiPerformance and HiData. This combination will provide a full solution, from initial data management and cleansing through deal execution and performance analysis to comprehensive management and client reporting. Existing users of DSTi`s front-office products have reported considerable improvements in STP (straight-through processing) rates.
"We were keen to make sure our investment managers have the right tools to deliver consistent superior investment performance," says Bill Main, CEO of SWIP. "We have recognised that good, efficient front-end systems are key to this toolset. DSTi`s system architecture was seen as the best way for us to accomplish our goals. When combined with our internal research-based philosophy, we are positioning ourselves to service our current clients very well, and allow us to expand business and future product plans as successfully and efficiently as possible.
"Being a global player, the SWIP deal will have an impact on DSTi worldwide as our product range grows from strength to strength, thus having a positive growth effect on the company as a whole, " says Marisa Bellini, director of DSTi South Africa.
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With 14 offices and around 1 000 professionals to support its growing client base, DST International provides a comprehensive range of investment management and business process management software solutions to over 550 clients in 45 countries. Its parent company, DST Systems Inc, services nearly 8 000 mutual funds and over 78 million accounts, with 2001 revenues of $1.66 billion.
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