MLC selects DST Global Solutions (Bluedoor) to deliver new retirement guarantee products
Posted: 18 October 2012 | Source: DST Global Solutions
MLC is set to launch an exciting new range of income guarantee products teaming up with DST Global Solutions’ wealth management platform, Bluedoor, to manage back office functionality
DST Global Solutions today announced that its marketleading web-based registry solution, Bluedoor, has been selected by MLC, the wealth management division of the National Australia Bank to administer a new range of guarantee features across the MLC MasterKey Super & Pension Fundamentals Products.
As an increasing number of individuals approach and enter retirement, and given the heightened awareness of risk, the need for capital preservation while retaining exposure to growth assets is paramount for retirees. MLC is responding to changes in the market with its first suite of protection features, enhancing the already competitive MLC MasterKey platform and Horizon series managed funds. MLC anticipates that innovative retirement solutions capital protection against large and unpredictable market fluctuations will continue to grow in popularity.
Andrew Barnett, General Manager of MLC Retirement Solutions, said: “As pre- and postretirees face a set of circumstances and risks that are substantially different to those in earlier age brackets, we need to develop innovative solutions to meet their needs. “Technology plays an integral role in the successful deployment of any new product, but especially when entirely new product structures are created. We required a complete solution capable of integrating into our existing technologies, and selected Bluedoor as the best choice following a global tender process. We were impressed by their next-generation technology framework, established experience in this area, and high level of expertise. Further, we believe the flexibilityof the technology will facilitate further rapid innovation, which will provide a substantial advantage.”
DST Global Solutions (Bluedoor) will deliver a scalable and customised administrative solution that is fully integrated into NAB Wealth infrastructure, ensuring continued operational efficiencies and service capabilities across the MLC MasterKey Fundamentals platform.
Martin Spedding, Executive Director, DST Global Solutions (Bluedoor) said: “We are delighted to be working with MLC to deliver a creative, innovative and practical software solution. Our open architecture design will integrate front-office with middle- and back-office components, adding a broad range of features and functionalities that maximise operationalefficiency. We are excited to play a part in this new offering for the MLC MasterKey
With MLC, Bluedoor has further demonstrated its position as the market-leading wealth management solution for investment administration and registry services.