Great Eastern Holdings is partnering with Eagle Investment Systems to adopt the latter’s secure private cloud and investment book of record (IBOR) solutions.
According to a press statement, Great Eastern will move its current data management functions to Eagle’s ACCESS private cloud and create an IBOR to help enhance its investment decision-making capabilities. This builds on Great Eastern’s relationship with BNY Mellon Asset Servicing, while Eagle is also part of the BNY Mellon group.
Great Eastern, with SG$85.4 billion in assets, is a leading insurer based in Singapore, which offers a wide range of life and general insurance products to over four million policyholders. It is one of Eagle’s longest-standing clients in Asia, having used its data management solution on premise since 2010.
“Moving onto Eagle’s hosted solution will further enhance our investment decision-making capabilities and give us the added edge to support our future growth,” said Ronnie Tan, group chief financial officer of Great Eastern.
“We are seeing more and more firms across Asia move on to the cloud, as central banks become more comfortable with the technology,” said David Ingleson, head of APAC at Eagle Investment Systems. “We’re also seeing a greater number of financial institutions in the region developing IBORs to achieve an accurate and consolidated view of their assets, risks and exposures; which helps them manage their investments more effectively. We are pleased to be able to further develop our relationship with Great Eastern as we support their future data management and IBOR needs.”