The Eagle Investment Systems cloud-based system will replace legacy technology, allowing Income to accommodate new asset classes as it diversifies its business.
It will also provide an investment book of record, to help with investment decision-making.
Income provides insurance products to 2 million customers and, as of the end of 2015, had $32.4 billion Singapore dollars ($22.8 billion) in assets under management.
Andrew Clay, investment COO at Income, said: “We were looking into a technology platform that will support us well into the future, especially one that provides us the flexibility to accommodate new asset classes as we diversify our business.”
John Legrand, managing director for Eagle in Europe, the Middle East and Africa, and the Asia Pacific (APAC) region, said: “We are receiving a lot of interest from insurance companies looking to introduce new portfolio management systems to adequately support their evolving business needs.”
“Singapore has long been a key target market for us and we have experienced significant growth since we first opened our office here in 2009. We are therefore delighted to welcome NTUC Income to our growing client base in APAC.”