TCS’s BaNCS platform continues to be extremely popular with UK Life and Pensions providers as long-term client the Phoenix Group signs to extend its use across its latest acquisition.

Phoenix Group is a key client for TCS with a relationship going back 18+ years, having started life as a specialist consolidator of life insurance and pension funds that are closed to new business (so called ‘Zombie funds’). Alongside this, it has developed an ‘open book’ business which creates and underwrites new saving and retirement products underpinned by a strategic partnership with Standard Life Aberdeen following Phoenix Group’s acquisition of Standard Life Assurance Limited in 2018, and which signed with TCS in 2019 (see TCS purple patch continues).

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