Finastra Improves Fusion Invest to Cater to the Annuities Sector
In a significant move, Finastra has unveiled new functionality within its Fusion Invest platform, tailored to cater to the unique requirements of annuities carriers. This development promises to streamline operations and ensure compliance for these carriers, who often grapple with the complexity of registered index-linked annuities (RILAs) and the stringent regulations set by FINRA and the Securities Exchange Commission.
Fusion Invest, a comprehensive platform, brings together all aspects of portfolio management into a single, user-friendly interface. Built on market-proven technology, it offers annuity carriers the ability to seamlessly coordinate front, middle, and back-office functions, thereby minimizing operational risks and enhancing efficiency.
One of the key advantages of Fusion Invest is its ability to automate tasks from trade order creation through to compliance checks. This automation not only saves time but also reduces the potential for errors. Moreover, it ensures compliance with the latest derivatives processing regulations, such as Swift ISO 20022.
Fusion Invest's scalable IT infrastructure and seamless connectivity make it an ideal solution for annuity carriers. It provides a wide range of out-of-the-box market connectivity and robust scalability and workflows, enabling users to achieve superior performance.
Recently, two prominent annuity insurers, Protective Life and Brighthouse Financial, chose Finastra as their provider for a hedging and processing platform for the entire annuity loan lifecycle. This decision underscores the confidence that industry leaders have in Fusion Invest's capabilities.
The platform also enhances collateral management workflow efficiency, driving operational costs down. It offers cross-asset hedging and real-time analytics decision support, allowing annuity carriers to identify opportunities to maximize returns within product boundaries, including participation rates, caps, and crediting methods.
Fusion Invest's extensive annuity and dynamic hedging capabilities are further bolstered by its inclusion of multi-underlying indexed-linked derivatives modelling. It also automates dynamic hedging of annuity contracts, eliminating the need for manual data entry and reconciliation.
In a rapidly changing market landscape, Fusion Invest offers increased scalability and adaptability. Its robust features, combined with its ability to minimize operational risks and ensure compliance, make it an essential tool for annuity carriers looking to navigate the complexities of their industry with ease and confidence.
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