NEW YORK, April 21, 2016 /PRNewswire/ -- NFU Mutual, a leading U.K. Mutual Society and provider of insurance, pensions and investments, and Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced a long-term partnership to deliver enhanced NFU Mutual advised and direct-to-consumer offerings, powered by Genpact's OpenWealth business process as a service (BPaaS) solution.
Genpact OpenWealth provides an efficient end-to-end platform for wealth managers, allowing them to focus on raising assets and managing investor relationships, while delegating non-core administrative processing. Genpact's OpenWealth solution leverages Bravura's next generation wealth technology Sonata, providing a functionally rich and intuitive, scalable and interoperable system. Genpact's OpenWealth services are delivered from its U.K. center of excellence in Glasgow.
"This partnership with Genpact will help deliver enhanced and innovative services for our customers and advisers," said Nick Turner, Sales and Agency Director at NFU Mutual. "We chose Genpact for a variety of reasons: deep expertise in U.K. wealth administration, use of next generation technology, strong operational culture, an ability to incorporate advanced technologies into its end-to-end processes, stability and security."
"We are excited to form a long-term partnership with an organization of the caliber of NFU Mutual, one of the U.K.'s oldest and most successful mutual companies and a top retail financial services brand," said Scott Lee, Genpact Head of OpenWealth, Europe. "The combination of our strong platform, domain expertise, financial strength, and heritage as a service provider positions us well to support NFU Mutual's strategy. In addition, our values are strongly aligned and we look forward to enabling the continuation of NFU Mutual's first class customer service."
NFU Mutual focuses on the financial needs of the farming and rural community. Operating primarily through a local network of agents and financial planners, NFU Mutual provides financial planning services to over 950,000 of its customers throughout the United Kingdom.
Genpact's OpenWealth business provides end-to-end business process as a service, including technology and process execution support for account opening, transfers, portfolio construction, rebalancing, trading, product administration, accounting and controls, customer, business and regulatory reporting, and compliance management. Based on a flexible and open architecture, its core technology platform for the U.K. market features a single chassis for all asset types, the ability to administer a client-centric view for all accounts and tax wrappers, and highly configurable support for multiple engagement types.
More information about Genpact OpenWealth is available at
About NFU Mutual Insurance Society
For more about NFU Mutual visit: www.nfumutual.co.uk.
Genpact (NYSE: G) stands for "generating business impact." We are a global leader in digitally-powered business process management and services. We architect the Lean DigitalSM enterprise through our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients' operating models end-to-end, including the middle and back offices. This creates Intelligent OperationsSM that we help design, transform, and run. The impact on our clients is a high return on transformation investments through growth, efficiency, and business agility. For two decades, first as a General Electric division and later as an independent company, we have been passionately serving our clients. Today, we generate impact for a few hundred strategic clients, including approximately one-fifth of the Fortune Global 500, and have grown to over 70,000 people in 25 countries, with key offices in New York City. The resulting business process and industry domain expertise and experience running complex operations are a unique heritage and focus that help us drive the best choices across technology, analytics, and organizational design. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
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