UK-based NFU Mutual has partnered with Genpact to launch new advised and direct-to-consumer offerings, which will be powered by Genpact’s wealth management solution.
The new offerings will leverage Genpact’s OpenWealth business process as a service (BPaaS) solution. The solution offers an end-to-end platform for wealth managers, helping them raise assets, oversee investor relationships, and delegate non-core administrative processing.
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Genpact, a US-based business process and IT services company, said that the solution facilitates technology and process execution support for account opening, transfers, portfolio construction, rebalancing, trading, product administration, accounting and controls, customer, business and regulatory reporting, as well as compliance management.
NFU Mutual sales and agency director Nick Turner said: “This partnership with Genpact will help deliver enhanced and innovative services for our customers and advisers. 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.”
Genpact head of OpenWealth for Europe Scott Lee said: “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.”
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