- Launch a single leading proposition to the Platform market by leveraging their retirement expertise and Embark’s technology.
- Create simple digital user journeys.
- Use proven platform as a service model.
Case Study – Scottish Widows
Founded in 1815, and part of Lloyds Banking Group (LBG), Scottish Widows (SW) is one of the UK’s largest insurances companies. With over 6 million customers and a product range that includes pensions, annuities, mortgages, savings and investments, life cover and critical illness cover.
- Create a digital platform that integrates with key back-office systems, tool and applications.
- Deliver a wide range of solutions that enables advisers to manage client money in line with their retirement and investment objectives.
- Provide integrated reporting that supports client reviews .
Key Opportunities
Scottish Widows have the ambition to be a scale player in the individual pensions and investment market. To do this they identified the need to:
- Simplify and deliver foundational digital capabilities. Improve data, digitisation, personalisation and integration with back-office software, tools and applications.
- Leverage this digital upgrade to deliver competitive propositions to participate at scale in the growth of the advised pensions and investments market.
- Continue to support Lloyds Banking Group’s purpose of “helping Britain prosper” by delivering solutions that enable advisers to support customers achieve their retirement and investment objectives.
They identified that Embark’s platform technology would enable them to progress towards their objectives by:
- Working in partnership with an agile fintech with proven transformation skills and speed to market.
- Using this partnership to launch into the advised Platform market with the “Scottish Widows Platform”, a combination of Embark’s modern technology and Scottish Widows’ retirement expertise.
- Delivering a programme of platform enhancements and successfully concluding a platform-to-platform migration within the first 12 months of operation.
Embark delivered:
IFA Platform:
- A highly digitised platform based on our configurable FNZ v21 Platform stack, which integrates with key back-office systems, apps, and tools.
- Leveraging Embark’s core technology, Scottish Widows were able to overlay their own bespoke branding on the platform digital interface and outputs.
Want to know more?
To find out more about how our products or services can help you and your business, complete our online form and a member of our helpful sales team will be in touch.