IFAs risk contravening the Data Protection Act by sharing passwords for life office extra-nets, warns Friends Provident.
Friends is to launch a new service for IFAs using its extranet to help firms control who has access to their company’s data on the site and prevent them sharing passwords.
The technology will speed up the process for IFA firms trying to re-register or remove employees from access to the Friends’ extranet.
Currently, firms have to re-apply to providers to re-register their employees to use their digital certificate and this can take weeks. Advisers will be able to do this themselves automatically and the change will be made instantaneously.
The firm has been developing its extranet to increase IFA access and help advisers to use it more often. The site allows advisers access to all their policies past and present, giving information on older policies that other providers do not make available.