Statement re IFAengine

Focus Solutions Group PLC 19 February 2002 19 February 2002 IFAengine selects Focus for IFA network Focus Solutions Group plc ('Focus Solutions'), the specialist provider of sales channel automation for the financial services industry, announces today that its 'goal:technology' product suite has been selected by IFAengine, the Internet portal for IFA network, Bankhall, to carry out the electronic processing of applications for financial products. IFAengine is the first portal to use Focus Solutions' online version of 'goal: technology'. All the leading IFA portals now use Focus' 'goal:technology' to enable the electronic submission of product applications across their services. The Bankhall IFA network is owned by Skandia and is the second largest commercial grouping of IFAs with approximately 4,000 registered users. 'goal: technology' will be an integral part of IFAengine's service, and will initially enable users to complete and process investment bonds and term assurance applications electronically. Insurance companies Friends Provident, Norwich Union Life and Prudential are already transacting business live on IFAengine, with other insurance companies expected to link up to the portal over the next couple of months. John Streets, Chief Executive of Focus Solutions Group, said: 'We are delighted to be working with IFAengine whose use of 'goal:technology' marks an important stage in the product's widespread uptake by insurance companies and portals. We remain committed to building strong relationships with the IFA community which will enable us to increase further the critical mass of our user base to deliver the cost benefits of e-commerce providing revenue enhancing transaction business.' David Warnock, managing director of IFAengine, said: 'By integrating 'goal:technology' into our portal, IFAengine can now offer its members the full benefits of electronic submission of product proposals. Also we can now provide a channel for insurance companies to benefit from standards-based new business e-commerce. Most of the UK's leading life and pensions providers have, or are in the process of, creating electronic applications for their products that can be used across IFAengine from this month.' Enquiries: Focus Solutions Group 01926 468 300 John Streets Claire Forrest IFAengine Therese Eltringham 0161 942 4246 Andy Priestley 0161 942 4256 Citigate Dewe Rogerson 020 7638 9571 Chris Barrie Sara Batchelor Notes to editors: 1. Focus Solutions Group is a specialist provider of sales channel automation for the financial services industry. The Company's products support the sale and delivery of financial products electronically via multiple sales channels such as the internet, extranets direct sales and the independent financial adviser (IFA) market place. Focus's XML-based toolkit is called goal:technology and enables business users to quickly construct 'intelligent' data-capture and processing components. It will allow the life, pensions, savings and investment market to significantly reduce the costs of acquiring new business and increase the speed of delivering new products to market. 2. Focus has sold 'goal:technology' to many of the UK life and pensions companies including Friends Provident, Legal & General, Norwich Union, Royal & Sun Alliance, Skandia, ZIFA, Scottish Provident, Standard Life, Scottish Equitable, Scottish Widows. In May and June last year respectively, Focus announced a licensing agreement with MPO Inc for a new server based version of 'goal:technology' to be used in the North American market and a licensing agreement with Spotlight Interactive, a leading South African software supplier, to sell 'goal:technology' to South African insurers. Focus has also recently launched a 'goal:technology' solution to capture mortgage applications on-line for the mortgage market. 3. IFAengine is an internet portal created to extend and enhance the range of financial services available to IFA members of Bankhall. Its aim is to include everything an IFA requires for the everyday running of their business. This information is provided by RNS The company news service from the London Stock Exchange
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