Business
Miscellaneous - PGH/TCS Extension of Partnership
Miscellaneous - PGH/TCS Extension of Partnership.
About this update from Standard Life Plc
[{"type":"text","content":"\n \n \n \n \n \n LEI: 2138001P49OLAEU33T68\n \n \n \n \n \n Phoenix Group extends partnership with Tata Consultancy Services (TCS)\n \n \n Phoenix Group, the UK's largest long-term savings and retirement business, today announces plans to extend its long-standing partnership with leading global technology and IT services provider Tata Consultancy Services (TCS). Phoenix will be moving c.3 million policies from its Alpha platform to the TCS BaNCS\n \n TM\n \n platform provided by TCS's UK subsidiary Diligenta, a leading provider of business process services to the life and pensions industry.\n \n \n As part of its acquisition of ReAssure in 2020, Phoenix took ownership of the Alpha administration platform, which manages legacy ReAssure products. Since then, Phoenix has operated the Alpha platform in-house, alongside its outsourced partnership with TCS.\n \n \n Over the past three years, Phoenix has deepened its relationship with TCS and Diligenta - announcing the movement of its Standard Life business to TCS in 2019 and more recently through the proposed acquisition of Sun Life of Canada UK which already uses the TCS BaNCS\n \n TM\n \n platform.\n \n \n Consolidating all policies on TCS BaNCS\n \n TM\n \n will allow the business to benefit from TCS's significant ongoing investment in the platform with Phoenix customers benefiting from the clear digital focus, consistent customer journeys and customer proposition provided by one platform. \n \n \n The Alpha platform will be decommissioned, with all policies moving on a staggered basis to TCS BaNCS\n \n TM\n \n . It is expected this will be complete by 2026. Some back office administrative processes will be moved to TCS's operational hub in India. All of the customer call servicing will remain within TCS's UK operations with the plan to operate the customer contact centre from the existing Phoenix Telford site using ReAssure operational teams.\n \n \n This will eventually lead to the closure of the Phoenix site in Hitchin by 2026.\n \n \n Phoenix is working with TCS to finalise the detail of changes proposed, and - at an appropriate time - will enter consultation with impacted employees. Phoenix will look to ensure that redundancies are kept to a minimum wherever possible, for example through redeployment opportunities and natural attrition.\n \n \n This tra...