Peterevans, leading solutions provider for financial services firms, today announced a new SaaS (Software as a Service) for small and mid-range firms to outsource their front and back offices.
The offering is based on a fully managed scalable and resilient IT platform which decreases operational overheads and ensures corporations comply with regulatory changes. SimplyStockbroking, one of the UK's most innovative execution-only services for private investors, is the first client to use the service.
The outsourcing platform is based on Microsoft SQL Server 2008 using the Microsoft SPLA licensing model for ASP applications. By making use of load balancing and redundancy technology down time is minimised and SLAs (Service Level Agreements) guarantee exceptional performance levels. Clients are charged on a tiered transactional basis, with charges decreasing as the level of transactions rise.
The front to back office outsourcing is the newest addition to peterevans' offering for brokers and wealth managers to increase the efficiency of their front and back office operations.
peterevans initially developed and hosted SimplyStockbroking's online platform which allows retail investor to register on line, fund their account and be trading in minutes. This has now been extended by the addition of peterevans' award winning back office system to provide a real-time fully integrated front to back retail stockbroking system.
SimplyStockbroking was also peterevans' first client to use the technology to offer the UK's first real-time share trading and execution mobile application. It enables clients to view their current portfolio in real time, simply and quickly and place and manage limit orders on the go and uniquely, buy and sell shares from a smartphone.
Mike Foley, CEO of peterevans commented: "Since peterevans' inception, we have always strived for innovative ways to help companies increase their efficiency and reduce costs. Outsourcing has always been one of our key areas, and we have now created an offering which is truly reliable and easy to deploy, offering access to latest technologies."
John Douthwaite, CECEO at SimplyStockbroking says: "We have been partnering with peterevans since inception, and the team constantly brings our solutions to new levels. Using xanite Wave to create the UK's first mobile application for real-time stockbroking was a milestone in our product offering, and outsourcing our back office is now the logical extension of our partnership. These new services, functionalities and features make us stand out of the crowd and help us to be one step ahead of the competition."
Karen Cone, general manager, Worldwide Financial Services, Microsoft, says: "peterevans' outsourcing platform, built on the solid foundation provided by Microsoft SQL Server 2008, enables securities firms such as SimplyStockbroking to accelerate innovation, greatly increasing the speed and effectiveness with which new products and services are created, constantly improving the connected customer experience."