Case Studies

Case Studies

Digital Keystone, a leading provider of state-of-the-art financial services and client/adviser portal software, is pleased to announce that Aegon UK has successfully implemented its technology solutions to support two new strategic investment platform initiatives.

Aegon's Secure Retirement Income (SRI), is a product designed for savers who are approaching or in retirement. It provides a guaranteed income for life enabling Aegon's customers to retire without worrying whether market falls will adversely affect their retirement plans. Digital Keystone's Adaptive Portal is used to power user journeys and integrates directly with Aegon systems including the underlying investment platform.

Aegon's new adviser Connectivity development integrates third party adviser systems with the Aegon platform providing seamless user journeys for new business, switch and top up between the systems through Digital Keystone's Adaptive Portal.

Richard Denning, Chief Operating Officer at Aegon UK, said 'The feedback from the Adviser firms using Connectivity is extremely positive. The pre-population is a game changer and vastly improves user experience and usability, the application is very easy to use and the look and feel is great.'
'It's great to learn that the market is responding so positively to the new systems,' commented Graeme Gets, of Digital Keystone, 'We are very pleased to be part of Aegon's technology strategy and look forward to continuing helping them provide exceptional service for their customers.'

Digital Keystone is now part of the Dunstan Thomas Group of companies. Chris Read, founder and Chief Executive Officer of Dunstan Thomas commented 'Digital Keystone are a gem of a company. They have such innovative capability and attention to detail. Adaptive Portal is a portal framework for the financial services market. Our Imago clients are sitting up and taking a good look at Adaptive Portal as a way of bring to life systems that need to be accessed by clients and advisers alike.'

Novia Financial plc launched to market in October 2008 to provide a comprehensive wealth management service wrap platform for investment advisers and their clients. Novia provides a transparent pricing structure as well as access to a wide range of product wrappers each with their own Cash Facility, an extensive suite of portfolio management tools, and access to an extensive range of investment classes including shares, bonds, traditional authorised funds, ETFs and alternative investments.

Challenge

Having conducted extensive testing and research amongst select adviser firms prior to launch to gauge opinion and monitor key requirements, the Novia platform needed to bring together everything in one place making it straight forward and intuitive for advisers to navigate the site. From launch the platform needed to offer straight through processing (STP) and access to multiple product wrappers including a SIPP, a general investment account, an offshore bond , and Cash and Stocks & Shares ISAs. Each wrapper required an integral cash facility and also the ability for off platform holdings to be recorded.

The technology platform was sourced from a number of vendors; the core transaction system from GBST, data from Financial Express and illustrations by Dunstan Thomas. Digital Keystone was engaged to provide a variety of front and back office functions to complete the solution. The deliverables included the tools for IFAs to build portfolios, including risk analysis, asset sector optimisation, model selection, asset selection, generate 'reasons why letters' and accompanying documentation, model evaluation, half yearly statements & tax vouchers, contract notes and a fax trading system.

One of the main challenges was to deliver seamless integration between the different databases, technologies and systems from the other three solution providers. The tools were required to integrate with Financial Express to consume fund information and provide integration with Financial Express's own charting and performance software.

Solution

Digital Keystone used a combination of leading edge technologies to deliver the desired functionality within the timescales required. The technology solution included interactive front-end tools .NET for server applications, integration with GBST s Composer system, Alfresco for the document repository, and Windward reporting for PDF generation. Digital Keystone also provided back-end processing and management systems to handle Statement and Contract Note generation as well as a comprehensive administrative portal.

Benefits

The portfolio tools provided by Digital Keystone provide an impressive shop window for Novia in its quest to convince IFAs to adopt their Platform. Behind the scenes the back office applications and integration are an integral part of the proposition and key to delivering a comprehensive service.

Shaun Allwright, Director of Business Development at Novia commented "Digital Keystone has been a great partner for Novia. The development of our portfolio tools is an important part of our proposition. It's hard to imagine having a better experience with the overall process than we did with DK, the projects were all delivered at a very competitive rate and all to schedule, working with them has been a pleasure.'

Digital Keystones working knowledge of portfolio tools for platforms and superior speed to market meant that phase one of the project was successfully delivered within a six month time-frame.

Challenge

Aegon were looking for a system to enter the platform market and support its new strategic focus on the at-retirement and workplace savings market. They also needed to support Aegon s existing range of pensions, investment and protection products which were to be made RDR-ready and offered on the new platform.

Aegon wanted to rapidly enter the market and the ability to be up and running quickly was a factor in selecting a provider. This led to Aegon to consider adopting an existing solution from another wrap platform rather than attempt a technology implementation of its own.

Aegon chose to work with Novia and the award winning technology platform sourced from GBST, Financial Express, Dunstan Thomas and Digital Keystone. The project was not simply a white labelling of the Novia platform but a completely new proposition, designed by Aegon, to represent its advice process. Aegon has complete control of the products and the supported fund universe.

As was the case with the Novia platform, Digital Keystone was engaged to provide a variety of front and back office functions to complete the solution. The deliverables included the tools for building portfolios, including risk analysis, lifestyle planner, asset sector optimisation, model selection, asset selection, generate "reasons why letters” and accompanying documentation, model evaluation, half yearly statements & tax vouchers, contract notes and a fax trading system.

The system needed to support group schemes, so new functionality was required to manage group schemes and to allow employees to manage part or all of their portfolios.

The system also needed to be extended to allow direct to consumer interaction with the platform. This involved enhancing the security model to support role and level based access to allow employees to view and manage their portfolios online.

A second challenge was to ensure that all documentation was automatically generated and available online to employees. This involved enhancing the document production system to automate all documentation including a new welcome pack for the group scheme. An enhanced client document page was created to cater for this need.

Solution

Digital Keystone used a combination of leading edge technologies to deliver the project, to enable integration with GBSTs Composer. Other systems that were integrated were Alfresco for the document repository, and Windward reporting for PDF generation.

Digital Keystone provided processing and management systems to handle Statement and Contract Note generation as well as a comprehensive administration portal.

Digital Keystone provided anti money laundering solutions through integrations with Experian.

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