Sanlam Collective Investments Completes Major Digital Migration with FNZ

Sanlam Collective Investments (SCI) and FNZ, a global wealth-management platform, have successfully concluded a significant digital migration effort.

With the migration of approximately 66,000 investors, 118 funds, and 498 Linked Investment Service Providers (LISPs) onto FNZ’s wealth management platform, SCI marks a crucial milestone in its digital transformation journey.

This migration, following SCI’s acquisition of Absa Investments, consolidates the investment management businesses of both entities onto a single technology platform provided by FNZ.

The migration involved transferring multiple legacy systems to FNZ, leading to improved operational efficiency and reduced risks for SCI.

The new Transfer Agency (TA) service through FNZ’s platform offers benefits such as reduced onboarding times for funds and enhanced automation, with a significant 99.37% improvement in fund onboarding time.

The platform now also offers a corporate cash product for SCI, facilitating seamless large transactions, along with improved data quality through a new data quality health engine.

Sylvester Kgatla, CEO of Sanlam Collective Investments, highlighted the importance of this migration in enhancing the service offering and ensuring operational efficiency for investors and financial advisers.

Ray Moodley, FNZ’s managing director for Africa, expressed pride in achieving this milestone with SCI, showcasing a commitment to setting new standards in the wealth industry.

The successful migration aligns with FNZ’s focus on leveraging technology to drive growth and enhance customer service in the African market, where they work with over 20 major financial institutions.

This partnership between Sanlam and FNZ, established since 2015, emphasizes a shared commitment to technological advancement and meeting customer needs in the wealth management sector.