Focus Solutions Group PLC
19 February 2002
19 February 2002
IFAengine selects Focus for IFA network
Focus Solutions Group plc ('Focus Solutions'), the specialist provider of sales
channel automation for the financial services industry, announces today that its
'goal:technology' product suite has been selected by IFAengine, the Internet
portal for IFA network, Bankhall, to carry out the electronic processing of
applications for financial products.
IFAengine is the first portal to use Focus Solutions' online version of 'goal:
technology'. All the leading IFA portals now use Focus' 'goal:technology' to
enable the electronic submission of product applications across their services.
The Bankhall IFA network is owned by Skandia and is the second largest
commercial grouping of IFAs with approximately 4,000 registered users. 'goal:
technology' will be an integral part of IFAengine's service, and will initially
enable users to complete and process investment bonds and term assurance
applications electronically. Insurance companies Friends Provident, Norwich
Union Life and Prudential are already transacting business live on IFAengine,
with other insurance companies expected to link up to the portal over the next
couple of months.
John Streets, Chief Executive of Focus Solutions Group, said:
'We are delighted to be working with IFAengine whose use of 'goal:technology'
marks an important stage in the product's widespread uptake by insurance
companies and portals. We remain committed to building strong relationships with
the IFA community which will enable us to increase further the critical mass of
our user base to deliver the cost benefits of e-commerce providing revenue
enhancing transaction business.'
David Warnock, managing director of IFAengine, said:
'By integrating 'goal:technology' into our portal, IFAengine can now offer its
members the full benefits of electronic submission of product proposals. Also we
can now provide a channel for insurance companies to benefit from
standards-based new business e-commerce. Most of the UK's leading life and
pensions providers have, or are in the process of, creating electronic
applications for their products that can be used across IFAengine from this
month.'
Enquiries:
Focus Solutions Group 01926 468 300
John Streets
Claire Forrest
IFAengine
Therese Eltringham 0161 942 4246
Andy Priestley 0161 942 4256
Citigate Dewe Rogerson 020 7638 9571
Chris Barrie
Sara Batchelor
Notes to editors:
1. Focus Solutions Group is a specialist provider of sales channel
automation for the financial services industry. The Company's products
support the sale and delivery of financial products electronically via
multiple sales channels such as the internet, extranets direct sales and
the independent financial adviser (IFA) market place. Focus's XML-based
toolkit is called goal:technology and enables business users to quickly
construct 'intelligent' data-capture and processing components. It will
allow the life, pensions, savings and investment market to significantly
reduce the costs of acquiring new business and increase the speed of
delivering new products to market.
2. Focus has sold 'goal:technology' to many of the UK life and pensions
companies including Friends Provident, Legal & General, Norwich Union,
Royal & Sun Alliance, Skandia, ZIFA, Scottish Provident, Standard Life,
Scottish Equitable, Scottish Widows. In May and June last year
respectively, Focus announced a licensing agreement with MPO Inc for a
new server based version of 'goal:technology' to be used in the North
American market and a licensing agreement with Spotlight Interactive, a
leading South African software supplier, to sell 'goal:technology' to
South African insurers. Focus has also recently launched a
'goal:technology' solution to capture mortgage applications on-line for
the mortgage market.
3. IFAengine is an internet portal created to extend and enhance the range
of financial services available to IFA members of Bankhall. Its aim is to
include everything an IFA requires for the everyday running of their
business.
This information is provided by RNS
The company news service from the London Stock Exchange
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