UK mutual society Teachers Provident has implemented Thomson Financial's Icon, a fund accounting system on an application server provider (ASP) basis, as part of a five year deal.
The system will enable Teachers Provident to manage life, pension and unit trust funds.
John Hughes, general manager of Teachers Provident, says: "We were looking for a back office system which had to meet a host of requirements, including automation of trade confirmations, electronic downloads of valuation data and the ability to be used in future on a third party basis."
Damian Powell, European sales director at Thomson Financial, says the ASP model provides clients with operational freedom, increases financial flexibility and reduces fixed costs.