The current economic landscape is characterised by financial institutions working to achieve growth and customer satisfaction while simultaneously trying to manage the challenges of cost, compliance, transparency, and the requirement for low-cost products. This comes at a time when profits are being squeezed by the overheads of products that have been superceded but which still need to be maintained because they are still widely used.
These challenges are changing the shape of financial institutions. The distinctions between banks, life-insurance companies, and asset managers will continue to blur. As they attempt to extend their share of the market, they will take up new positions and cut across sectors.
As the corporate identities and product offerings of financial service companies are simplifying, so are the organisations themselves. They are becoming more aggressive in scrutinising their own performance, and are concluding that a part of their product administration is no longer core to their business plans. They are finding that outsourcing should be considered as an everyday business strategy.
Jardine Lloyd Thompson’s Financial Institutions Service is a leading provider of third-party outsourcing solutions for employee-benefit administration and consultancy. We can help you determine precisely which key competencies actually deliver you sustainable competitive advantage, and can help you maximise areas of investment. Using our services can provide advantages such as:
- a reduction in administration costs
- more time to address other areas of strategic importance
- more time to spend on the generation of new products
- the transfer of the everyday risks of administration and regulatory change to a highly experienced third-party administrator
- a reduction in the cost of maintaining legacy systems
- the ability to purchase annuities in bulk
We also provide the means by which you can consolidate and integrate your software requirements, and transform your business processing – tapping into large-scale processing power allows you to potentially reduce costs. And we can provide an entry point for your new products, giving you greater exposure to the market while reducing your setup, distribution, and manufacturing costs.
Our Financial Institutions Service is especially suited to working with the following products:
- Final salary schemes
- Small Self Administered Schemes (SSAS)
- Self Invested Personal Pensions (SIPPS)
- Annuity payments
- Group schemes including AVCs, Group Money Purchase Plans, Group Personal Pensions, and Rebates
- Risk benefits, including PHI and GLA
- Buyouts
- Executive pension plans
- TIPs
- Stakeholder pensions
- Personal pension plans
Our success is based on good customer service, building strong partnerships with our clients, and on providing strong support for their businesses. For your customers, this will represent greater efficiency, and a seamless brand experience.
