OneAnswer, Xplan partnership transforms online processes

ING Australia today announces the transformation of its OneAnswer online application process, that now allows advisers to complete and submit new applications without a client signature.

In a market leading initiative, investment applicant processing will be accepted without client signatures whether through the ING adviser website or directly from IRESS’ web-based financial planning software, Xplan.

“This is a major development that removes the manual paper work, quickens the application and ulimately frees up advisers to spend more time advising their clients,” said Matt Paterson, Head of Customer Service, Personal Investments.

“ING developed online forms for the ING adviser website and partnered with IRESS to develop and deliver this capability through Xplan.  With IRESS and the Xplan product, we have a continuing process of improvements that benefits advisers and ultimately clients.

“We already provide data feeds to Xplan so advisers can review and run reports on OneAnswer client transactions and investments.  Furthermore, ING will allocate substantial capital in 2008 to achieve greater integration with financial planning software.”

The online upgrades integrate fund manager data and forms to the adviser desktop, allowing advisers to use the one software application to manage their business and transact and communicate with mulitple platforms, while at the same time removing the need for paper-based transactions.

Key benefits of this new application include:

• No need to complete a manual paper based new business application,
• Auto-populate OneAnswer new business applications from Xplan using customer information gathered by advisers,
• Ease of use with forms being able to be submitted using the same application (Xplan) that planners and their support staff use daily, and
• Ability to get immediate confirmation of ING’s electronic receipt of the forms.

A further benefit of these upgrades is a significant reduction in the use of paper.  Advisers can now complete all applicant information online and clients can receive electronic copies of the PDS, saving 115 pages. The move to paperless applications is a key ING global focus.  The business is committed to carbon neutral processes and offsets.

Andrew Walsh, General Manager of IRESS Wealth Management Solutions said, ”IRESS’ resolve is to deliver operational efficiency to advisers and their dealer groups through technological smarts, functionality and integration. The tight integration to OneAnswer for applications in addition to our work on the existing ING datafeed, is another example of this commitment to our end users”.

The upgrades to online processing are within a continuum of OneAnswer platform improvements that have included the addition of new funds and market leading innovations in allowing ATM payments from pensions.  Further enhancements will be announced during 2008.

“The key focus of this continuous improvement process is to maintain OneAnswer as the leading and most responsive funds platform for advisers and to give clients maximum choice through a range of premium investment options,” said Mr Paterson.