The Exchange has announced the integration of its comparative quotation and electronic application services with two new software platforms.
The portal has added back office administration software platform FAIRS and also online product research database called Aequos from Defaqto.
The FAIRS system is already used by over 300 intermediaries according to the Exchange including Independent Financial Advisers, mortgage brokers and specialist private client portfolio managers.
The portal service says FAIRS is designed to enable intermediaries manage their client relationships effectively. The platform also enable fact finds, needs analysis, valuations, portfolio modelling, asset allocation reviews, risk analysis and client reporting.
The Exchange says the platform will enable users to transfer client data electronically from their back-office into Exweb’s quote services and then into electronic application forms removing the need to re-key information several time and reducing administrative processes and costs.
Meanwhile the portal service says the Aequos platform will allow users to search the 30,000 products contained on its database covering life, pensions, investments, banking and general insurance.
In addition the 4,000 IFAs that already use the database will now be granted direct access to The Exchange’s Exweb portal enabling them to transfer client data automatically into the quotation system.
The new arrangements form part of The Exchange’s expansion strategy of integrating its quotation and electronic applications services with other systems used by intermediaries.
David Child says the addition of both systems will reduce the administration costs to IFAs as well as giving them more time to generate new business.
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Joined as head of strategy, multi asset, in June
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