IRESS has revealed plans to automate the process of obtaining whole-of-market annuity rates on its comparison and transaction portal The Exchange in the wake of recent regulatory changes.
The technology supplier said it was responding to the rules recently announced by the Financial Conduct Authority (FCA) in policy statement PS17-12 which, from March 2018 will mandate annuity providers to inform their customers how much they could gain from shopping around before they purchase an annuity. IRESS said The Exchange's new functionality would automate the process of obtaining whole-of-market rates, enabling annuity providers and financial advisers to present the comparison of rates needed to meet the FCA's requirements on annuity prompts. The company's executive general ma...
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