IFDS to provide full array of technology and administrative solutions for Sun Life Financial
New Suite Of Sun Life Guaranteed Investment Funds To Leverage IFDS Record-Keeping Technology
TORONTO, ON – May 29, 2015 – International Financial Data Services (IFDS) Canada, a leading provider of technology and outsource services to the financial services industry, today announced that it has been chosen by Sun Life Financial Inc. to provide a full range of segregated fund service solutions.
IFDS will be providing transfer agency, record-keeping, and back office support services for Sun Life’s new suite of segregated fund products, which includes Sun GIF Solutions, Sun Lifetime Advantage GIF, and Sun Protect GIF.
Sun Life, one of the world’s largest insurance companies, will leverage iFast, IFDS’ proprietary record-keeping technology system, as it expands its individual wealth business in the Canadian marketplace.
“Sun Life needs a market leading provider with a strong track record and deep understanding of the segregated fund industry,” said Katherine MacMillan, President and CEO, IFDS Canada. “We’re proud to have been selected to support their growth and their commitment to customer service excellence.”
With a well-established segregated fund market in Canada, the new segregated fund product suite aligns with Sun Life Financial’s strategy of growing its asset management business globally while capturing its share of the retirement opportunity in Canada.
“We are excited to launch Sun Life GIFs, our new industry-leading suite of segregated fund products designed to allow investors to save with protection in a volatile market, access money when they need it and, with the retirement income products, receive lifetime guaranteed retirement income,” said Brigitte Parent, SVP Individual Insurance & Wealth, Sun Life Financial Canada. “IFDS is providing us with the right combination of functionality-rich technology, flexible tools, and knowledgeable service teams to support our new product suite and we are happy to have partnered with their experienced team of professionals.”
IFDS continues to be recognized for innovative solutions, technology, and its corporate social responsibility. The company was recently honoured with the Custody Risk Americas award for “Technology Innovation of the Year” and was the “Tech Innovation of Year” winner at the American Business Awards. In 2014, IFDS also won a Silver Stevie Award for “Corporate Social Responsibility Program of the Year”.
About IFDS Canada
International Financial Data Services is recognized as a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS’ services are provided to a wide range of global asset managers, wealth managers, platform providers, insurers, and life companies. Supporting more than 45 million investor and policy holder accounts for over 360 financial organizations across Asia-Pacific, Europe, and North America, the IFDS enterprise employs in excess of 7,900 experienced individuals located throughout Canada, Ireland, Luxembourg, the United Kingdom, and the U.S. IFDS is a 50/50 joint venture between Boston-based State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and Kansas City, Missouri-based DST Systems Inc., a global provider of strategically unified data management, business processing, and customer communication solutions. For more information visit www.ifdsgroup.com.
About Sun Life Financial
Celebrating 150 years in 2015, Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2015 the Sun Life Financial group of companies had total assets under management of $813 billion. For more information please visit www.sunlife.com.
Notes to Editors
All figures in Canadian dollars.