Barclays rolls out Focus POS solution
e-SCRIPT (electronic Select Choice Regulated Integrated Planning Tool) was built for their ‘Select Choice’ financial planning proposition launched last year.
The Point of Sale solution supports Barclay’s distribution network in response to the introduction of depolarisation and provides links to six selected providers including; AXA, Friends Provident, Norwich Union, Legal & General, Prudential and Standard Life. e-SCRIPT is integrated with industry portal, Assureweb, who provide a comparative quotation and client-specific illustrations service to Barclays’ advisers and allows them to submit new business applications online.
Focus’ MCA (Multi-Channel Advice) approach was used to build Barclays Financial Planning’s e-SCRIPT Point of Sale solution, which enables effective electronic trading across multi-distribution channels, both online and offline.
e-SCRIPT provides a straight through electronic process for the adviser and supports the sale of regulated life and pensions products for Barclays’ corporate and personal customers. Components of the new solution include; client manager, fact find, needs analysis, product applications, quotes engine wrappers, a suitability report generator and communication components to pass client data to the back-office solution.
e-SCRIPT was piloted last year and is now used by over 350 advisers and 50 area managers. A further 400+ advisers are expected to go live later this year, with a series of developments now in the pipeline.
Eddie Watson, head of sales planning and operations, Barclays Bank PLC said: “In order to roll out our new Select Choice proposition efficiently we needed a technology that was quick to develop and deploy to deliver us speed to market and benefit. Focus’ technology met our business criteria and in addition was flexible enough to allow us to change our solution to meet the future requirements of the business and industry, delivering significant benefits to both the adviser and the client. We have an excellent strategic partnership with Focus.”
Stuart Finnes, account manager, Focus Business Solutions, added: “Over the past twelve months we have built a successful business relationship with Barclays and we are extremely proud of the e-SCRIPT solution. Since the start of depolarisation we have seen a growth in the demand for Point of Sale solutions, such as our own, that can effectively support sales across the new emerging distribution structures.”