Linedata, a solutions provider for finance firms, said Foresters Friendly Society (Foresters) has chosen Linedata Icon as the technology solution for its fund accounting and unit pricing operations.
Foresters is an established UK Friendly Society with around 82,000 members. With the recent acquisition of a book of unit-linked life insurance business, Foresters required a fund accounting and unit pricing solution, which could undertake unit pricing on a daily basis as well as manage the general investment accounting associated with such funds.
This operation required a swift implementation to comply with the acquisition timetable and the entire Linedata Icon solution was up and running in a three-month timescale.
“Linedata will be key in streamlining and automating our fund administration and unit pricing processes,” says Paul Osborn, chief executive of Foresters Friendly Society.
Linedata Icon has a strong and growing base of friendly society and insurance clients in the UK. Linedata said it will continue to invest in Linedata Icon to ensure that it is functionally and technologically advanced and supports its clients in their growth, across all markets and geographies.
