Aegon Life accelerates Digital Transformation, partnering with Legerity’s FastPost for real-time finance systems architecture.
Monday, 07 March 2022: Aegon Life, India’s leading digital life insurance company, has selected Legerity’s FastPost, a cloud-based Accounting Rules Platform, as a core component of its new real-time finance systems architecture.
This is an important milestone for the company as it rolls out a fully integrated, event-driven, cloud-based, scalable architecture.
The move will enable a digital-ready back office supporting real-time accounting and reporting capabilities for Aegon Life. A ground-breaking aspect of the implementation is the real-time streaming of data that captures business events, and seamlessly converts them into entries in the Accounting System.
Manish Falor, Chief Financial Officer at Aegon Life, commented, “Traditional finance system architectures rely on batch integration; meaning data is often outdated by the time it reaches finance. This new architecture ensures that Aegon Life’s finance department can account for business events and transactions as soon as they happen. This will deliver game-changing capabilities in enabling real-time business and partner profitability, advanced business insight, plus improved end-to-end financial control and data lineage. This implementation is an important step in our digital transformation journey.”
Jeremy Wood, CEO at Legerity, adds, “Aegon Life is paving the way for future state finance systems and data architecture. Leading-edge finance platforms like FastPost, integrated with the latest data cloud and streaming technologies, mean finance are equipped and ready to handle the wave of digital innovation that all firms face”.
About Aegon Life India
Aegon Life is India’s first and only fully digital life insurance company, advancing the country’s digital insurance ecosystem and closing the gaps between industry, technology, and people. Our innovative experiences and solutions offer users greater transparency, accessibility, and ease of use, helping financially secure every Indian household. Aegon is a joint venture of Aegon N.V. and the Bennet Coleman Company Ltd., popularly known as the Times Group.
Find out more at https://www.aegonlife.com/
Legerity helps clients deliver digital finance transformation and complex accounting change. Cloud-native, with ultra-high performance, Legerity’s FastPost Accounting Rules Platform is a vital component of a future state finance systems and data architecture.
For further information, please visit www.legerityfinancials.com