Following Old Mutual's acquisition of Skandia in 2006, it was decided that funds from both Skandia and Selestia Investments Limited (owned by Old Mutual) would be migrated to a new fund platform known as Selestia Investment Solutions. Under FSA regulation bi-annual portfolio statements must be provided for clients in possession of investment funds and their Financial Intermediaries. In order to satisfy statutory bi-annual portfolio statement mailing requirements for Selestia Investment Solutions funds, the data, business rules and statement designs employed by both Skandia and Selestia Investments Limited required integration into a single software solution.

Objective
Matrix-Data Solutions is employed by Skandia to execute the Skandia MultiFUNDs Limited bi-annual client portfolio statement mailing. Having successfully completed numerous FSA regulatory mailings of this type, Matrix-Data Solutions has been selected to generate the Selestia Investment Solutions bi-annual client portfolio statements. High level requirements for the project include:

Solution
Matrix-Data Solutions conducted a rigorous requirements analysis process to identify Skandia's initial and ongoing requirements. An array of data analysis and transformation techniques ensures that only relevant and accurate transactional data is included in statement content.

Matrix-Data's Project Management Office utilises PRINCE 2 and a carefully-selected set of quality management techniques to ensure that the expectations of Skandia and all regulatory requirements are satisfied, and that any risks and issues are identified, managed and mitigated in a controlled and smooth manner.

Due to the bi-annually recurring nature of client portfolio statement mailings, a re-usable, adaptable and scalable software system based on leading edge technology has been delivered that satisfies all original requirements identified by Skandia and is easily configurable to offer great flexibility should statutory, reporting or marketing requirements change.

To ensure that mailing execution proceeds in the most efficient and cost-effective manner additional business logic has been incorporated into the system to enable machine enclosing – thus reducing the likelihood of manual enclosing errors, minimising handling charges and maximising postage discounts.

Results
A professionally-constructed and business-critical system has been delivered to a key industry player whilst maximising cost-effectiveness. In ensuring that the system has been delivered within the time and budget constraints outlined at the project outset, neither quality nor feature-completeness has been compromised.

Matrix-Data Solutions continues to execute statutory mailings every six months for both Skandia MultiFUNDs Limited and Selestia Investment Solutions client portfolio statements. Iterative updates of the system are conducted to incorporate new requirements and implement improvements and enhanced controls based upon lessons learned from previous mailings.

The bespoke software solution used in conjunction with an experienced Account Manager means that the mailing - from receipt of data to statement dispatch - is now executed in a matter of days.

For more information about our comprehensive range products and services for customer and business intelligence please see out website www.matrix-data.co.uk . Alternatively please contact us via email info@matrix-data.co.uk or call 020 7074 1200.