Collabera, a global consulting and technology services provider, announced that it has been selected by IFDL to provide application development and maintenance services for the independent Wrap platform, Ascentric. IFDL is part of the Royal London Group, UK’s largest mutual life and pensions company.
The multiyear agreement with IFDL is a strategic partnership for Collabera, extending its footprint in the UK market. As part of this deal, Collabera has hired IFDL’s entire in-house technology services team based in Bangalore, to be fully integrated in and be part of its strong global service delivery team.
Key to the agreement is the transition to a managed services model, where Collabera will draw on its deep experience and best practices to help IFDL to maximise returns from investments and minimise total cost of ownership, providing the competitive edge to stay ahead of competition.
The future of Wrap platforms in the UK market is largely dependent on the platform provider’s ability to successfully identify advisors’ requirements and continue to invest in a scalable technology solution, providing the best functionalities and outstanding quality of service at competitive prices. With deep understanding of the evolving IT and business landscape, Collabera has the ability to accelerate the business value of IT initiatives by helping to bridge the strategy-to-execution gap through hands-on, cost-effective, highly mature and industry-specific solutions and services.
Krishnamurthy Ramamurthy, Senior Vice President and Head of Global Delivery at Collabera, said, “We are pleased to be selected by IFDL and the Royal London Group as a strategic partner and the start of this relationship is an exciting new chapter for us. We focus on helping our customers navigate the intricacies of the financial services market – declining fee revenues, need for alternative revenue growth strategies and managing cost of new regulations.”
Hugo Thorman, Managing Director at Ascentric and IFDL, said, “Collabera’s business model provided us with the best fit both operationally and culturally and they were the stand out candidate during our extensive tender process. We are very pleased to be working with Collabera and look forward to developing a long-term relationship with them.”
