Under the agreement, Misys IFA Services will use Focus Solutions’ goal: technology software in its own IFA Point of Sales / Compliance desktop solution. mi-solution, which integrates seamlessly with the AssureWeb IFA portal, will be rolled out to 7,000 IFA users within the Misys Network from December 2002 onwards and will be supported by eight major life and pensions providers.
In a survey carried out by Focus at a recent adviser.tech event, the key barrier holding IFAs back from trading electronically is that the current technology available does not integrate easily with their back office systems. mi-solution is a significant step in the removal of electronic trading barriers as it enables IFAs to re-use customer data from their own databases to pre-populate new business applications and ultimately submit these to the product provider via the AssureWeb IFA portal.
Commenting on the deal, John Streets, chief executive, at Focus Solutions, said: “This contract is a major step forward for Focus and will help kick start electronic trading in the IFA community. It has highlighted that collaboration is not only essential between IFAs and product providers, but also between technology suppliers to ensure a consistent platform for electronic trading.”