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FundsNetwork to Flex muscles

FundsNetwork chief David Dalton Brown says the platform is to launch a host of new technology offerings.

Speaking at the conference, Brown said the platform is due to launch a new technology system called Flex which he believes will “revolutionise the user interface”.

Dalton Brown told delegates that 70 per cent of FundsNetwork’s direct business is conducted completely online but this figure is “frustratingly lower” among IFAs.

He said greater integration with back-office technology is likely to improve these figures.

He said: “As we integrate the platform more and more into the back-office system and you cannot differentiate between the two, a lot of that paperwork will disappear.”

Dalton Brown said FundsNetwork is actively lobbying on existing regulation such as requirements for wet signatures and reporting for products.

He suggested the UK may be lagging behind countries such as Australia, where platforms have one report for all assets rather than for each product.

Dalton Brown said providers will offer propositions that pull back and front offices together – such as the US version of FundsNetwork.

He believes the total business solution of the future will utilise innovations in digital television and mobile technologies. He said: “I think we have a fascinating future when it comes to technology.”

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