Provider Standard Life has launched its bulk data download facility for both group and individual pensions, including valuations, fund allocations and payment details.
Policy status and fund breakdowns are also provided, while use of Origo standards enable valuations to be provided in real time from www.ifazone.com.
Standard Life quotes cost savings as a big reason for pushing the service at the present time: research forecasts 95% of contract information will be available electronically from the majority of providers by 2005, it adds.
Intermediaries can choose to receive their bulk data in one of two data formats – CSV, or comma separated variable, or XML – with notification by email by the next working day of the availability of the file requested.IFAonline
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