Toronto, Canada – Feb 3, 2005 – Desjardins Financial Security today announced it has selected SunGard COMPASS, SunGard Insurance Systems’ integrated system, to administer its group retirement savings contracts. SunGard Insurance Systems has been a leading global provider of financial and insurance software solutions for both the individual and employee benefits industries for more than thirty-five years.
Desjardins Financial Security will use COMPASS as a �single-source� solution to strategically develop its service offer. It will also help Desjardins Financial Security to maintain its high-quality customer service, improve its time to market for new product and service offerings and to contain overall operational costs.
According to Monique Tremblay, Senior Vice-President, Savings and Segregated Funds at Desjardins Financial Security: �The purchase of this high-performance technology platform is in keeping with our Canada-wide growth strategy. Bolstering our representation throughout the country, adding new renowned fund managers and deploying the new technology platform will help us to better meet our clients� changing needs in an increasingly complex group retirement savings environment.”
Greg Webber, President of SunGard Insurance Systems, said, �We are very pleased that Desjardins Financial Security has selected SunGard as one of its strategic software solution providers. To have such a respected organization on our customer list is a great endorsement of SunGard.”
Desjardins Financial Security and SunGard Insurance Systems are preparing to deploy the new platform while continuing its day-to-day operations during 2005. “It�s a technological evolution realized by means of a proven solution that offers numerous benefits to plan sponsors and members,” Ms. Tremblay added.
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of the Desjardins Group, the largest cooperative financial group in Canada, specializes in life and health insurance as well as retirement savings. Over 5 million Canadians from coast to coast rely on it every day to ensure their financial security. Desjardins Financial Security employs some 3,700 people and manages more than $14 billion in assets. The company has offices in a number of cities nation-wide: Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montreal, Quebec City, Levis and Halifax. It ranks fourth in Canada among life and health insurance companies for direct written premiums. Visit Desjardins Financial Security at www.desjardinsfinancialsecurity.com
About SunGard Insurance Systems
SunGard Insurance Systems is a global provider of technology solutions to more than 2,000 customers in the insurance industry. SunGard Insurance Systems offers straight-through processing solutions from front-office sales support to back-office administration, accounting, investment and statutory reporting. SunGard Insurance Systems’ professional services team includes insurance industry specialists who provide consulting, implementation and outsourcing services. Visit SunGard Insurance Systems at www.sungard.com/insurance.
SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com.