This week, WSJ sister title Money Marketing reported on Standard Life’s plans to invest in D2C using some of the proceeds from the sale of its Canadian business.
The Edinburgh-based provider is making a wise choice. For having seen the news, inquisitive WSJ reporters logged on to Standard Life’s site to test out the current Isa transfer service. It promptly crashed.
The journo in question would love to hand Standard a ready-made excuse and testify that their own whopping Isa savings had stretched the administrative power of the life office website to the max.
Alas, a measly Isa transfer of a few thousand pounds should be meat and drink for even the most cumbersome of technology systems.
But having bagged a tidy £2.2bn – £500m after shareholder dividend plus a distribution tie-up with North American insurer Manulife, Standard Life should have no trouble finding the necessary reserves to patch up their consumer-facing tech.