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Phoenix Group Chooses Beacon Platform as its First Quant Dev Platform to Grow Business and Scale Risk Management

LONDON, JULY 10, 2024 – Beacon Platform Inc. is pleased to announce that Phoenix Group has chosen to deploy Beacon as their first quantitative development platform, in support of the company’s long-term growth and scalable risk management objectives. 

Phoenix Group , the UK’s largest long-term savings and retirement business, brought Beacon in as part of an initiative to develop the firm’s quantitative analytics capabilities, to better assess, control, and optimise the financial risks it manages for more than 12 million customers. With over £280 billion of assets under administration, Phoenix Group offers a range of pensions and savings products through its consumer brands, which include Standard Life, and aims to help customers who are investing over the longer term achieve good outcomes when they come to retire. Effectively managing investment risk is key to that. The company’s growing Quantitative Engineering team wanted to accelerate their work by leveraging the power of a cloud-native platform, controlled quantitative development environment, customisable instruments and analytics, and scalable compute. 

James Blackham, Head of Quantitative Engineering at Phoenix Group, said “What made a difference to us in choosing Beacon was the ability to start using the platform early on. That not only gave us the confidence that we were making the right choice in selecting a quantitative development platform, but it also meant that we were able to get value out of the platform straight away.”

“Phoenix was one of the first participants in Beacon’s Accelerator product program,” said Dave Hooper, Co-Head of Solutions Engineering at Beacon. “This trial offering enables potential clients to access a sandbox development environment and curated resources. The Phoenix team found this experience greatly helped their learning of what Beacon can do and accelerated their journey from concept to production.”

About Phoenix Group

Phoenix Group is the UK’s largest long-term savings and retirement business. With over £280 billion of assets under administration, the company offers its more than 12 million customers a range of products through a collection of strong and trusted pensions, savings, and life insurance brands. Its mission is to help everyone achieve the retirement they want and stay with them for the whole journey. Phoenix is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. For more information visit www.thephoenixgroup.com.

About Beacon

Beacon is a financial technology firm that provides everything quantitative developers need to rapidly build, test, deploy and share trading and risk applications, analytics and models. Developed by a team with unmatched financial markets experience, Beacon’s unified platform includes the apps, tools and infrastructure firms need to migrate their software and infrastructure to the cloud, manage risk across all asset classes, and focus on building innovative strategies that provide a competitive edge. For more information visit www.beacon.io.