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Aegon Cofunds to oust IFDS and its tech

Aegon nurtures tech (just not that of IFDS)

Pension, insurance and investment management firm Aegon has embarked on a large technology project with a number of specialist tech providers – to move the acquired Cofunds business from the International Financial Data Services (IFDS) platform.

Top fintech stories this week – 5 May 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Old Mutual Wealth drops IFDS from £450m tech revamp contract

Old Mutual Wealth 1

UK investment service Old Mutual Wealth (OMW) has terminated its £450 million tech revamp contract with International Financial Data Services (IFDS) due to rising costs. OMW says the costs of implementation – which entails platform delivery and outsourcing services – would have been “materially greater than those advised to the market” in October 2016 (see […]

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