NFU Mutual has partnered with the provider of business process and wealth management technology.

NFU Mutual, a UK provider of insurance, pensions and investments, has teamed up with New York-listed Genpact in a partnership that will allow the former to leverage the latter's end-to-end technology for wealth managers.

NFU Mutual aims to enhance its advised and direct-to-consumer offerings through Genpact’s OpenWealth business process as a service (BPaaS) solution. The platform, which uses Bravura’s wealth management administration technology, Sonata, allows wealth managers to focus on raising assets and managing investor relationships, while delegating non-core administrative processing.

It offers technology and process execution support for account opening, transfers, portfolio construction, rebalancing, trading, product administration, accounting and controls, customer, business and regulatory reporting, and compliance management.

“This partnership with Genpact will help deliver enhanced and innovative services for our customers and advisors,” said Nick Turner, sales and agency director at NFU Mutual. 

“We chose Genpact for a variety of reasons; deep expertise in UK wealth administration, use of next generation technology, strong operational culture, an ability to incorporate advanced technologies into its end-to-end processes, stability and security.”

Founded by seven farmers in 1910, NFU Mutual provides financial planning services to over 950,000 clients in the UK, including the farming and rural community, individuals and businesses.