Fintech Defaqto has expanded its capability with the integration of Iress’s back-office system Xplan.
The firm said integration between Xplan and Engage would improve accuracy for advisers and reduce compliance risk, offering advisers a clear picture of their client’s portfolio and eliminating the need to re-key details, making the process faster and less prone to errors.
Users can link to their Xplan account by entering their Xplan login details into Engage and Defaqto said this latest move will also allow two-way integration for Engage users with Xplan, bringing advisers’ customer data, product data and research seamlessly together.
Through a range of workflows, advisers can manage their financial planning process, from risk profiling through to product, platform and fund research and recommendation, in one place.
Paul Tinkler, head of insight and consulting at Defaqto, said: “We have developed Engage as an end-to-end financial planning tool and integration with advisers’ back office systems is a big part of this. Traditionally, advisers have had to use disparate systems working in silo to execute tasks. Navigating this can not only be expensive but can also cost precious time that could be better spent with clients.
“With the introduction of Xplan back office integration to its existing back office integration offer which includes Intelligent Office, Engage now supports two of the most widely used pieces of back office software.”
