Bankhall drops Capita's Enabler platform
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Bankhall has today announced that it will no longer use Capita’s Enabler technology to power its Portavista platform following a review of the service.
Capita announced in June that due to economic conditions it was no longer investing in the development of its Enabler proposition.
Bankhall says as a result it has decided that the Enabler platform is no longer able to underpin Portavista as part of the group’s platform strategy.
Bankhall says it is now working closely with IFA firms using the service with a view to closing the current platform by the end of the first quarter of next year.
Bankhall managing director David Golder says: “The long-term benefits of platforms in helping to drive greater efficiencies and profitability for the advice profession are compelling, which is why we regret having to take this action.
“However, after several months of deliberation, we concluded that Capita’s decision to radically scale back investment in the development of its Enabler technology meant that the original vision for Portavista underpinned by Enabler could no longer be realised.”
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Readers' comments (4)
Dave Hedge | 25 Nov 2009 3:01 pm
Probably not the last announcement of this type.
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Mister maker | 25 Nov 2009 3:24 pm
You can't help but think this was rushed to market and ill conceived - although that is heavily seasoned with hindsight!
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Dathan Steele | 25 Nov 2009 3:42 pm
I've always thought that the smaller platforms were on a sticky wicket when it comes to continued development. As the life co's are desperate to try and stop assets from moving elsewhere then they are throwing money at platforms/wraps.... can the smaller players really compete with this?
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Anonymous | 26 Nov 2009 8:23 am
The technology is difficult and expensive - don't let anyone kid you otherwise. Lifetime, Amex, Capita - all deep pockets - what do they know that others are covering up?
Be very careful!
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