Author: FINBOURNE– www.finbourne.com
London, New York, Singapore, 22 November 2023 – Pension Insurance Corporation (PIC), the specialist UK pension insurer, has chosen FINBOURNE Technology to provide investment data management capabilities, to help drive their data strategy.
Following an in-depth market review, PIC, who manage a portfolio of ~£45 billion and provide guaranteed pensions to over 300,000 people in the UK, will use FINBOURNE’s cloud-native financial data management platform, LUSID, and specialist financial data virtualization engine, Luminesce. The solution will enable PIC to consolidate private asset, ESG, market, reference, pricing, analytics, ratings and trading data from multiple sources into a single view, streamlining operational processes.
Improved data accuracy and availability across the enterprise
FINBOURNE’s flexible, API-first data management capabilities will enable a seamless migration to a standardised data model. The solution will increase accessibility and provide timely access to data across a wide range of enterprise users, giving them confidence in data quality and accuracy.
The scalable platform will adapt and integrate with new and complex data sets, providing the foundation for more accurate and transparent financial reporting. It will also help drive their purposeful investment strategy, to meet the evolving needs of their expanding stakeholder and policyholder base.
Streamlined data consolidation across internal and external sources
PIC will leverage FINBOURNE’s off the shelf integrations to key external sources and providers, to help consolidate and validate multiple data sets. PIC will be able to consolidate data, applying complex rules based on multiple fields and sources, to automatically validate data from internal and external sources. This includes private markets and fixed income data within the organisation, as well as securities master data, ESG, pricing, transactions, positions and cash balances from external data providers.
With a streamlined data flow across the enterprise, PIC will capture clear data lineage and improve end-to-end transparency, to drive data-driven investment decisions.
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.”
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About FINBOURNE Technology
FINBOURNE Technology was founded in December 2016 with a mission to reduce the cost of investing and increase transparency and trust in capital markets. In six years, we have grown from seven founders to over 200 employees, with operations in Europe, North America and Asia-Pacific. Leveraging SaaS technology and a secure cloud infrastructure, our solutions LUSID®, LUSID PMS™ and Luminesce® are designed to liberate, simplify and connect data, for emerging hedge funds, through to established global investment, banking and capital markets institutions.
Delivering an interoperable Modern Financial Data Stack, we offer cutting-edge infrastructure that sits at the heart of global capital markets, reducing operational complexity and total cost of ownership. FINBOURNE is trusted by some of the world’s leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford and Railpen.
About Pension Insurance Corporation
Pension Insurance Corporation plc (‘PIC’) is a specialist UK insurer. They provide tailored pension insurance buyouts and buy-ins to the trustees and sponsors of UK defined benefit pension funds.