NatWest Group Extends Relationship with SS&C

Rhea-AI Summary

On February 1, 2022, SS&C Technologies (Nasdaq: SSNC) announced the renewal and expansion of its transfer agency contract with RBS Collective Investment Funds Limited, a subsidiary of NatWest. This agreement involves the migration of over 800,000 investor portfolios, including more than 700,000 child trust funds. The expansion will introduce new digital services, including mobile applications and a Digital Investor portal, aimed at modernizing operations and enhancing client engagement. This collaboration signifies SS&C's commitment to provide innovative solutions for its clients.

Positive

• Renewal and expansion of contract with RBS Collective Investment Funds Limited.
• Migration of over 800,000 investor portfolios to SS&C's platform.
• Introduction of new digital servicing channels enhancing client engagement.

Negative

• None.

WINDSOR, Conn., Feb. 1, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that RBS Collective Investment Funds Limited ("RBSCIFL"), a wholly-owned subsidiary of National Westminster Group plc ("NatWest"), has renewed and expanded its transfer agency contract with SS&C. RBSCIFL migrated more than 700,000 child trust funds (CTF), 36,000 individual savings accounts, and 20,000 Junior Investor Savings Accounts (JISA) to SS&C Global Investor and Distribution Solutions ("GIDS") as part of the expansion.

RBSCIFL will introduce several new digital servicing channels following the migration, including a mobile-friendly CTF maturity process, the Digital Investor portal, mobile applications, webchat and secure messaging.

"We are pleased to extend our long and valued relationship with RBS Collective Investment Funds. We will consolidate over 800,000 investor portfolios onto our single technology and servicing platform, streamlining and modernizing RBSCIFL's operations in the process," said Spencer Baum, Senior Director, Head of Client Service & Relationship Management, SS&C GIDS. "We are providing RBSCIFL with the tools to meet the evolving needs of their retail clients and engage with the next generation of investors."

Learn more about SS&C's Global Investor and Distribution Solutions here.

About RBS Collective Investment Funds

RBS Collective Investment Funds Limited provides collective investment management services for clients across the wider NatWest Group.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the recent contract renewal by SSNC with NatWest Group about?

SSNC renewed and expanded its transfer agency contract with RBS Collective Investment Funds Limited, migrating over 800,000 investor portfolios.

How many child trust funds were migrated to SSNC's platform?

More than 700,000 child trust funds were migrated as part of the contract expansion.

What new services will be introduced following the contract expansion with NatWest Group?

New digital servicing channels including a mobile-friendly CTF maturity process and a Digital Investor portal will be introduced.

When was the contract renewal between SSNC and NatWest Group announced?

The contract renewal was announced on February 1, 2022.