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Bankhall in Microsoft deal to develop wrap

IFA support services provider Bankhall is developing the first stage of a wrap product using policy aggregation software from IT giant Microsoft.

Bankhall says it intends to work in partnership with Microsoft to design a platform which will allow its advisers to view aggregated client policy information on one page.

It plans to use Microsoft&#39s Biztalk 2004, a data integration hub which will be integrated into Bankhall&#39s existing IT offering IFA Engine by technology company Solid Soft.

Microsoft already dominates the provision of back-office and processing systems for banks and investment groups and says it intends to make a push into software provision for IFAs.

Bankhall IT director Nigel Hopwood says: “We believe that offering aggregation tools will allow advisers to sell more products. We see this as step one towards a wrap proposition, with the focus on life and pensions initially, then moving on to investments.”

Microsoft director of UK financial services Bill Voysey says: “Microsoft is trying to construct its involvement in financial services from teller to trader. Working with providers and IFAs is something we are increasingly interested in.

“We are very hopeful that the project with Bankhall will create a benchmark around integration and performance and are interested in seeing what Bankhall and Skandia can achieve with it.”


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