Novia will be the first platform to feature new integrated front and back office software from technology firm InfoComp.

InfoComp has been developing its front office capabilities to add to its back office software in a bid to provide easier straight through processing for its wrap technology.

‘First and foremost, the benefits are around capabilities for straight through processing,’ said Novia chief executive Bill Vasilieff (pictured). ‘It makes it easier, and minimizes error.’

The Australian firm said the integration would make it easier for advisers to be able to access greater levels of data on clients’ investments.

‘When you have a query you can drill down until you get the answer you require,’ said Infocomp head of sales and marketing Kirsty Worgan. ‘Advisers get all the information they require to service their clients.’

Unlike systems based on separate front and back end offices, the new integrated technology will not rely on data transfers between the two, leading to a greater degree of straight through processing.

Worgan said she saw the new system as the future for wraps, adding that some life company platforms with legacy data held in a number of different back office systems would benefit from making the switch.

‘It helps data validation and straight through processing. Everyone has to reduce costs but they need to improve their client servicing,’ she said. ‘The only way to do that is through straight through processing.’

Platform providers using the system would see the benefits in more efficient data entry when making changes to products, adviser details or responding to legislative changes, as it will only require such changes to be entered once, rather than on a multiple of systems

Daniel Grote

www.citywire.co.uk