Sundeep Raichura, CEO of Alexander Forbes Kenya. He says the platform
will provide users with instant access to several years' worth of
information. PHOTO | FILE |
NATION MEDIA GROUP
By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com
In Summary
- The new platform will eliminate the need to keep bulky paperwork records of thousands of pensioners in physical facilities.
- The software is expected to work alongside the recently launched online portal for Alexander Forbes scheme members which allows them to access and update their data online.
- It will be sold to trustees for a one-time fee of Sh500,000 ($5,000) per unit.
Financial services provider Alexander Forbes has set
up a new online platform that allows pension fund trustees to digitise
and store their pension data and records.
According to the risk and insurance broker's CEO Sundeep
Raichura, the new platform dubbed 'the eboard' will act as a repository
allowing the trustees to file board minutes, financial records and
client data in cloud storage, thus eliminating the need to keep bulky
paperwork records of thousands of pensioners in physical facilities.
“The solution will be used to store and provide
online access to all trustee information. There will be no restriction
to the number of years that documents can be stored, providing users
with instant access to several years of information,” said Alexander
Forbes CEO Sundeep Raichura.
Pension managers generate huge amounts of paperwork
as they process and keep monthly records of thousands of pensioners and
pension scheme contributors.
The new software, powered by Software Technologies
Limited, is expected to work alongside the recently launched online
portal for Alexander Forbes scheme members which allows them to access
and update their data online.
Mr Raichura said that the eboard will be sold to
trustees for a one-time fee of Sh500,000 ($5,000) per unit, while the
monthly access fee per user within the trustee organisation will be
Sh7,000 ($70).
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