HiPortfolio, the asset servicing solution from DST Global Solutions, has been implemented by China Life Pension Co., an affiliate of China Life Insurance (Group) Company.
As part of China Life Insurance (Group) Company, China Life Pension Co offers a wide range of pension and annuity services for customers across China.
By implementing the new asset servicing platform, the company is able to integrate the accounting and valuation process between the custodian bank and the finance practice in order to help reduce human effort, audit risk and potential reconciliation errors.
Yong Wang, head of information technology at China Life Pension said: “We were looking for improvements in portfolio management, automation of reporting and more efficient handling of bulk transactions. HiPortfolio has helped various divisions work together more smoothly and therefore more cost-effectively.”
According to Wang, the efficient and low-risk migration of data with HiPortfolio was of immense benefit.?Philip Hogan, managing director, Asia-Pacific for DST Global Solutions, said: “Pension companies in China are under increasing pressure to improve operational efficiency and increase margins.”? ?
