NTUC Income upgrades investment-related infrastructure

Eagle Investment Systems, a BNY Mellon company, has been selected by NTUC Income (Income) to deliver a technological transformation of its middle- and back-office for its investment division. Eagle's solutions are helping leading financial institutions in the region by providing cloud-based technology and managed service solutions to help firms efficiently manage their investment data.

Income is Singapore's largest composite insurer, providing life, health and general insurance products to 2 million customers across the country. The company remains committed to its foundational purpose of serving the people of Singapore through insurance that is affordable, accessible and sustainable. At the end of 2015, it managed assets totalling S$32.4 billion.

Income will replace its legacy technology platforms with Eagle's suite of data management, investment accounting as well as performance measurement and attribution solutions. The transformation will provide Income with an accounting book of record (ABOR) and enable it to achieve an investment book of record (IBOR) to aid investment decision-making. The solution will be deployed over Eagle ACCESS SM, Eagle's secure private cloud.

"We were looking into a technology platform that will support us well into the future, especially one that provides us the flexibility to accommodate new asset classes as we diversify our business," said Andrew Clay, Income's Investment COO. "We look forward to evolving our daily operations and rapidly adding value to our organisation with Eagle's pre-built daily workflow tools and management dashboards."

John Legrand, MD, Eagle in EMEA and APAC, said, "We are receiving a lot of interest from insurance companies looking to introduce new portfolio management systems to adequately support their evolving business needs. Singapore has long been a key target market for us and we have experienced significant growth since we first opened our office here in 2009. We are therefore delighted to welcome Income to our growing client base in APAC."

Eagle has offices in Singapore, Beijing in China, and Sydney, Australia.