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Pensions in the Cloud

By Malcolm Johnson, Managing Director, Profund Solutions Limited

The word ‘pension’ does not normally evoke innovation, but like many other business sectors, the pensions industry is integrating technological advances to bring forth new solutions to increase efficiencies. The rapid pace of technological innovation and change offers this traditional, conservative business sector the opportunity to embrace new ways of consuming pensions administration and accounting software.

The traditional model of corporate IT teams maintaining, servicing and delivering an installed system to the users is now being challenged by companies looking for more innovative and cost-effective solutions.

Introducing the Cloud
Cloud hosting (‘the Cloud’) is the next chapter of pension technology – it is a powerful tool and its use in pension administration is beneficial for all stakeholders, including members, scheme administrators, trustees and corporate CIOs.

Not to get swept up in technical terminology, the Cloud is actually a metaphor for the Internet and ‘in the Cloud’ refers to software applications, platforms and infrastructure that are based remotely (sitting outside ...Read More

How big data is driving insurers towards the cloud

By Bob Welton, Regional Director Northern Europe, NTT Communications in Europe

With IDC forecasting the big data market to expand at a compound annual growth rate of more than 31 per cent to be worth nearly $24 billion in 2016, it is important that businesses understand that to unlock the true potential of big data they need to implement a cloud strategy first.

It is clear that a growing number of business leaders are turning to the cloud to help gain a competitive edge for their organisations as well as looking for new and efficient ways of working. In 2013 a study by <...Read More

Threats must be confronted

By Andrew Ducat, Head of Client Services at Baronsmead LLP

Over the past decade, the financial sector has increased its reliance upon technology at an incredible rate. In contemporary business, the processes and interactions undertaken by investors, managers and between institutions are almost unrecognisable from even five or ten years ago. Whilst such technology continues to become more proficient, the threats and security considerations that must be confronted by firms also do, such threats can be both large and small.

A single breach of cyber security can have a devastating i...Read More

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