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Aviva and tech provider take joint responsibility for platform errors

Aviva-signage-building-2013-700.jpgAviva is telling platform users that third party technology provider FNZ is jointly responsible for fixing errors experienced because of its replatforming project in January.

Aviva moved assets on its platform from Bravura technology to FNZ six months ago but the project has been beset with issues, including advisers and clients not receiving payments, trades not being completed, difficulties running quotations, accessing valuations and getting the platform to accept new applications.

Money Marketing has heard from one advised client who was wrongly paid their total annual income from their Sipp in one month, instead of the monthly payment.

The client returned the money, which was reinvested in the Sipp.

However, more than two months after the money was returned by the client, a calculation, which Aviva confirmed would be carried out, has not been completed.

That calculation would determine how much the client had lost by not having their money invested so the provider could put the Sipp back in the position it would be in if the income payment error had not occurred.

An email from Aviva’s platform complaints team to the client this month acknowledges the loss assessment has not been carried out and that Aviva cannot confirm when it will be done because it is the “platform provider” that will complete it – a reference to FNZ, which manages the underlying technology for the platform.

The pain of replatforming: Inside Aviva’s tumultuous tech upgrade

The email says: “I’m sorry I cannot provide you with any further information but I can assure you our platform provider is aware of the issue.”

The customer service staff member said the client would be updated in two weeks.

When contacted by Money Marketing, Aviva says it and FNZ are working together to resolve issues still being experienced after the replatforming.

An Aviva spokesman says: “It is important to make it clear that Aviva and FNZ are completely committed to resolving customers’ issues, and are working together closely, and supporting each other to do this. We have agreed processes in place to effect resolutions, and naturally as part of this some tasks fall to Aviva, and others to FNZ.”

The spokesman adds: “This response was simply stating that the tasks required to complete remediation are shared between the companies. No blame is being attached anywhere and none should be inferred. We will continue to work together constructively to resolve outstanding issues and provide remediation where customers have suffered a financial loss.”

In a letter to the client responding to their initial complaint, Aviva says it is unable to reimburse the charges taken by it.

The letter says: “This is because even though we have made this error on your policy the platform has remained functional.”

Aviva has agreed to pay the client £200 in compensation for the “poor communication” they had from the company and because it was unable to say a timeframe for when the policy would be corrected.

The Aviva spokesman says: “Through this process, we will ensure customers are restored to the financial position they would have been in had no issues occurred. This does not, in all cases, include refunding platform charges that would have been due anyway.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Game Keeper Turned Poacher 25th July 2018 at 12:42 pm

    Not sure the FCA would see it that way….outsourcing responsibility etc….

  2. Poor communication indeed. Aviva is the platform provider regardless of who they outsource administration to or use for technology.

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