Prudential is in talks with technology provider Bravura to support its administrative platform launch plans for UK.
Prudential first unveiled plans to develop its own platform in August last year as part of a £100m overhaul to diversify away from annuities.
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However, according to a company spokesperson, the platform is unlikely to be rolled out before the end of the year.
"Over the past year or so, we have made no secret of our plans to bring products to the market. In scoping that out, we have been looking at the most appropriate administration systems. We have spoken to the main players in the market but we have not signed anything yet," said the spokesperson.
According to Prudential UK CEO Jackie Hunt, the investment would be made over a two-year period to help fund a "very broad-based range of products and propositions", including "getting on to third-party platforms", with-profits, income drawdown prod-ucts and Isas.
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