Ascentric delays £4m tech upgrade

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Ascentric is delaying the launch of its £3.9m technology upgrade until next year to conduct more tests on the software.

The technology, called Project Accelerator and provided by Bravura, was originally due to be launched in September 2015, then in October 2014 the date of the launch was postponed to the end of 2015.

Ascentric, which is owned by Royal London, will delay the launch to test the software “properly” before advisers access it, says a Royal London spokesperson.

However, the firm has not set a deadline for the launch of Accelerator.

Ascentric chief executive Jon Taylor says: “We have delayed Accelerator into next year to ensure we carry out a robust testing programme before going live.

“We are keen to ensure we deliver the best quality platform for our customers with the high standard of service they expect.”

Ascentric is the 11th-largest platform in the UK by assets under administration, with £9.6bn as at 30 June.