Abbey National Financial Investment Services operation (Anfis) has implemented Co-Stars retail fund management software from UK-based Cor Systems.
Co-stars has been implemented with the objective of increasing operational functionality across the Anfis range of retail investments such as unit trust, Oeics and equities, while reducing administration overheads.
The initial phase of the project took three months to complete and provides end-to-end electronic processing for equity-based Employee Share Save Schemes within Anfis. Subsequent phases, due for completion in 2001, will integrate Co-Stars' complete suite of asset, product, charge management facilities and underlying business rules across Anfis' future business areas. Existing business residing within legacy applications will also be converted as part of the project.
Steve Osborne, executive chairman, COR Systems says: "Through Co-Stars, Anfis now has the capability to support their full range of retail investment products on one system."