Baltics-based Luminor partners with FA Solutions to streamline cross-border pension operations

Baltic-based financial services provider, Luminor, has partnered with cloud portfolio management platform provider FA Solutions to streamline its cross-border pension operations.

Luminor is the largest local independent bank in the Baltics with a central office in Estonia and branches in Latvia and Lithuania. In line with local regulation of pension asset management, Luminor Pensions operates through separate local legal entities in countries of operations.

The partnership will enable Luminor to consolidate its multi-country systems into one platform. The FA Solutions team has worked closely with Luminor Bank to deploy the system in each country since the implementation project began in 2019.

Commenting, Luminor Bank head of asset management and pensions, Rasmus Pikkani, said: “As Luminor was created through the merger of several entities, we have been working on improving our IT architectures to align with our cross-border business model. FA Solutions’ cloud-based platform provides a single technical solution commonly managed across several locations, allowing us to focus on providing the best service for our customers.”

FA Solutions provides a cloud-based portfolio management platform that automates and centralises operational processes into one easy-to-use system via multiple application programming interfaces. The FA Platform automatically summarises the necessary data in one document based on selected parameters, shedding light on hidden insights.

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