Skandia will outlaw paper applications for most transactions on its Selestia Investment Solutions platform from January 2009.
The firm says with paper applications fast becoming redundant, a ban will enable Skandia's proposition to remain highly competitive to advisers. About 70% of advisers currently using Selestia Investment Solutions only ever submit business online, the company says. However, Skandia cannot make a complete ban on paper, as a few platform processes are yet to be fully automated (see below). "It makes perfect sense for the industry to use the technological advances we've seen over the last decade to improve administrative efficiencies and make cost savings for both advisers and providers, ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes