Skandia has gone live with find processing provider Milestone’s pControl rebates solution.
Milestone says the product offers Skandia a solution to the FSA rebates issue and will allow the platform to give rebates in cash or units without a need to re-engineer current processes.
Skandia is currently implementing pControl under a three-phase programme and became the first firm to go live with it in April this year.
Skandia head of investment administration Peter Fleming says: “Skandia was really impressed with Milestone Group’s pragmatic approach to our specific requirements, and its focus on innovation and operational excellence provided a strong functional and cultural fit with Skandia.”
Milestone chief executive Geoff Hodge says: “It is imperative firms have the ability to respond efficiently to product innovation, investor preference and regulatory change without upheaval, and where possible within one strategic platform.”