Financial software firm Marlborough Stirling forms an alliance with South African financial services group Sanlam to provide offshore outsourced IT services.
Marlborough Stirling, a leading provider of software and services to the life, pensions, mortgage and investment markets, has joined forces with Sanlam, one of the largest financial services groups in South Africa.
Life and pensions companies can now choose whether to have their outsourcing and adminstration needs serviced from the UK or South Africa. Companies can place their business with Marlborough Stirling Adminstration (MSA) in the UK or allow the company to sub-let the contract to South African-based Sanlam. If customers choose Sanlam, they will pay around 80 per cent of the cost currently charged by MSA.
Dave Power, consultancy services director, Marlborough Stirling, comments: "The alliance provides clients with an offshire option. They have access to the same premium quality outsourcing services but at lower cost. The only difference is they will be serviced from South Africa."
Sanlam has been using Marlborough Stirling's Lamda life and pensions administration solution since October 1999 and writes around 50% of its new business on the system. The company has a portfolio of over three and a half million policies, which its administers at low cost due to its efficient processes, use of technology and South African employment costs.
MSA will remain responsible for the distribution and sales of the service plus the customisation, implementation and maintenance of the administrative platform and management of client relationships. Other task include document scanning, imaging and letter creation.