The Exchange enhances Exweb portal

Source: Marlborough Stirling

The Exchange, the leading provider of portal services to intermediaries, today announces the launch of major new services that provide the functionality to transform its Exweb portal in to a one-stop-shop client management and electronic trading platform capable of facilitating the uptake of electronic transactions in the industry.

For no additional cost the new services expand significantly the benefits Exweb can deliver to intermediary firms:
  • For the first time intermediaries will have access to a client database within a portal service that enables them to store all relevant details for each client so that they have a clear view of advice given and future requirements.
  • This database enables intermediaries to enter data once that can then be automatically transferred into all quotation and new business submissions undertaken for the relevant client. This will particularly enhance the speed and ease of online new business submission for intermediaries compared to existing services by enabling significantly greater pre-population of electronic application forms with client data.
  • Exweb provides a central point of access for IFAs undertaking electronic new business, enabling users to link easily to product provider extranets for online new business submission and to access providers' electronic application forms directly via Exweb.
  • To make it easier for advisers and their administrators to work together on Exweb, a new administrator license has been launched that enables a single administrator or para-planner to log-in to a number of adviser Exweb accounts and support them in key stages of the sales process, such as completing electronic application forms.

    IFAs will now see options on the main menu of Exweb for Client, Research, Quote and Buy which builds on the recently launched new look and feel of Exweb. This aligns Exweb more closely with intermediary requirements to research, quote and buy financial products on behalf of their clients.

    The new services are being rolled out to the intermediary market during July and August to ensure The Exchange can provide the necessary technical support to IFAs.

    This is the first set of services to result directly from the collaborative development programme between The Exchange and a number of leading product provider and intermediary firms. The multi-million pound investment programme by the Exchange aims to deliver significant business benefits to intermediaries and product providers and particularly to increase the use of cost effective e-commerce facilities across the industry. Further services will be launched to the market shortly via Exweb Gold, the next generation of the Exweb service, and back office administration systems.

    David Child, managing director at The Exchange, comments: "These exciting new services on Exweb will greatly reduce the administration burden on intermediaries and make it easier for them to transact business electronically. The client database is unique in the portal market and will help advisers service their clients efficiently and cost effectively. By making it easier for advisers to apply for products electronically the new services form part of our ongoing commitment to drive up the volumes of electronic transactions processed across Exweb."

    Jon Cross, head of IFA eBusiness at Prudential, comments: "Prudential is very pleased to be working with The Exchange on this exciting development programme. The enhanced version of Exweb will offer the end user a more intuitive and comprehensive platform, saving time and improving efficiency right through the advice process."
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