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Global Bankers in Production with FAST Platform

Staff Writer | May 04, 2017

FAST announces Global Bankers Insurance Group is in production with FAST Insurance Components after a four month implementation. The FAST Platform provides new business and policy administration capabilities for Global Bankers’ annuity business. The scope of this first release included 10 integration points, including accounting, correspondence, inbound and outbound banking feeds for payment and disbursement processing, policy print, and data warehouse integration.

Global Bankers utilized FAST’s implementation methodology that leverages FAST’s out-of-the-box processing functionality, integration capabilities, and configurable product engine to complete implementations in unprecedented timeframes.

“Member company Colorado Bankers Life Insurance Company chose the launch of its new flexible premium deferred annuity, called Preferred Asset Growth II, as our pilot project on the FAST Platform” says Joe Lurie, CIO of Global Bankers. “Critical to its successful launch was speed-to-market, which we achieved with a one-team model approach and strong partnership with FAST. From this pilot, we plan to implement a series of products on FAST.”

“We were pleased to achieve our aggressive timelines and launch the new product on schedule,” says Renga Appan, a senior member of the Global Bankers Leadership team in India. “The collaboration between the FAST and Global Bankers team members was exceptional which helped us leverage FAST product capabilities better, in addition to achieving a faster turnaround. We’re now looking forward to further roll out of the platform as part of our long term strategy.”

“It’s great that customers like Global Bankers and others are demonstrating what’s possible with the FAST platform. Among our customer base, three to six month implementations are becoming common and we’re pleased about that,” says Tom Famularo, CEO of FAST.

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