Pension Insurance Corporation (PIC), a leading UK pension insurer overseeing a portfolio of ~£45 billion, has chosen FINBOURNE Technology to revolutionize its data management strategy. In a strategic move, PIC will leverage FINBOURNE’s cloud-native financial data management platform, LUSID, and Luminesce, a specialized financial data virtualization engine, to streamline operations and bolster their data-driven investment approach.
What is Enhanced Data Accuracy and Accessibility
After an extensive market review, PIC opted for FINBOURNE’s flexible, API-first data management capabilities to facilitate a seamless transition to a standardized data model. This solution promises improved data accuracy and availability, offering enterprise users timely access to a consolidated view of private assets, ESG data, market information, references, pricing, analytics, ratings, and trading data from diverse sources.
How to Scale Solutions for Future-Ready Financial Reporting
FINBOURNE’s platform, known for its scalability, will effortlessly adapt to and integrate with new and intricate data sets, providing a robust foundation for transparent financial reporting. This capability aligns with PIC’s commitment to a purposeful investment strategy, catering to the dynamic needs of their expanding stakeholder and policyholder base.
Efficient Consolidation Across Internal and External Sources
Taking advantage of FINBOURNE’s off-the-shelf integrations, PIC aims to consolidate and validate data from key external sources and providers. The platform will automatically validate data using complex rules based on multiple fields and sources, encompassing private markets, fixed income data, securities master data, ESG, pricing, transactions, positions, and cash balances from both internal and external providers.
Streamlined Data Flow for Informed Decision-Making
By implementing this streamlined data flow, PIC anticipates capturing clear data lineage and enhancing end-to-end transparency. This strategic move positions PIC to make informed, data-driven investment decisions and underscores its commitment to staying at the forefront of innovation in the pension insurance landscape.
Angela Pearce, Chief Data Officer at Pension Insurance Corporation comments: “Our purpose is to pay the pensions of our current and future policyholders, and a robust data strategy is critical to achieving this. By selecting FINBOURNE’s data management solution, we are confident that we will drive our investment strategy forward, with an enhanced platform supporting our operations, now and in the future.”
Thomas McHugh, CEO and Co-founder at FINBOURNE Technology adds: “We’re pleased that PIC have chosen FINBOURNE to streamline their internal and external data management with our next-generation data management and IBOR capabilities. This selection is another validation of our expertise in this field, and we look forward to working closely with PIC, to unlock the potential of their data.”
To know more about other trending usecases in the US financial services industry, like Generative AI, Open Banking, Buy Now Pay Later (BNPL), explore our other insights.
—————————————————————————————————
About Innovation Streets:
Welcome to InnovationStreets.com! Get the latest insights from the finance and technology industries. Discover industry updates on Fintech Innovations, Regulatory Developments, Industry Insights, Events, and Banks/Insurance partnerships with fintechs. A platform for C-level executives to submit Thought Leadership content for their peers. Subscribe for updates!
