TORONTO, May 1, 2006 – Desjardins Financial Security today announced that it has completed the implementation of SunGard’s iWORKS COMPASS (http://www.sungard.com/iWORKScompass), SunGard’s enterprise group benefit administration system.
With COMPASS now operating in the group retirement savings enterprise network, Desjardins Financial Security will be able to further facilitate the development of online management and investment solutions. And, the platform will help solidify the overall improvement of the company’s group retirement savings offering.
“Desjardins Financial Security selected COMPASS as a ‘single-source’ solution to help enhance our service offering to our group retirement savings clients,” said Monique Tremblay, senior vice-president of Savings and Segregated Funds for Desjardins Financial Security. “The implementation of COMPASS will help support our national growth strategy in the Canadian group retirement savings market since it will help facilitate the administration of our group plans. It will help ensure that our products remain innovative and tailored to our clients’ respective needs.”
Desjardins Financial Security partnered with SunGard throughout 2005 to develop COMPASS as its new technology and administrative platform. The synergy between the two companies helped ensure that the system was implemented in record time and allowed for new business to be added to the system.
“We are pleased to support Desjardins Financial Security in its rapid implementation of existing business and introduction of new group retirement products,” said Greg Webber, president of SunGard’s iWORKS business unit. “Desjardins Financial Security is a valuable and respected strategic partner. We look forward to a continuing long-term relationship.”
About Desjardins Financial Security
Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in life and health insurance, as well as savings products and services. Every day, over 5 million Canadians rely on Desjardins Financial Security to ensure their financial security. The Company, which employs 3,659 people and has over $17 billion in assets under management, has offices in several cities across Canada, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montreal, Quebec, Levis and Halifax.
SunGard iWORKS is a business-driven IT product family for the insurance industry in each of the following major business lines: life/health/annuities/pensions, property and casualty and reinsurance. iWORKS offers a range of products and services including front-office tools, policy administration, reinsurance, actuarial calculations, financial accounting, investment accounting, and reporting. SunGard partners with customers to deliver products and services that align with changing business and regulatory needs.
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.