TISA announces re-registration milestone for Altus and Origo
TISA has announced today that Altus and Origo have successfully completed the first interoperability tests between their respective re-registration systems. Using TISA-endorsed scenarios for nominee to nominee transfers, this achievement shows that in-specie asset transfer messages can be transmitted, received and understood by both Altus and Origo re-registration solutions.
This is the first time that two different re-registration solution providers have successfully exchanged messages using the new ISO20022/SWIFT message standard. Previous pilots have involved all parties using the same system so this latest development is an important step in the creation of an open, interoperable environment for re-registration.
In line with the RDR timescale, the FSA has set a deadline of the end of 2012 for platforms and providers to allow re-registration and there has been a great deal of discussion in the industry about automated re-registration services.
Altus Products Director Ben Cocks believes the tests represent a significant milestone:
“This first transfer between competing suppliers should remove any lingering doubts about interoperability and give people the confidence to focus on the functionality they need rather than worrying about message networks. The freedom we all take for granted when buying a mobile phone is finally coming to Financial Services.”
Paul Pettitt, Managing Director of Origo, said:
“Our customers have told us that they want to know that their re-registration solution provider has the experience to run a mission-critical service for them, and importantly, can also interoperate with the other systems available. By demonstrating that re-registration interoperability is at the heart of the tried and trusted Options Transfers service, we give them confidence that we can deliver the solution they need.”
Jeffrey Mushens, TISA Technical Director commented:
“An enormous amount of work is going into enabling the electronic transfer of assets. We have established TeX to provide certainty for customers and firms that re-registration is being completed to an agreed standard. These latest interoperability tests by Altus and Origo are also helping to build the momentum towards successfully meeting the RDR re-registration requirements ahead of the end of year deadline.”
Ends
For further information, please contact:
For TISA media enquiries linked to this story please contact:
Jeffrey Mushens
Technical Director
Tel: 07939 575093
Email: jeffrey.mushens@tisa.uk.com
For Altus media enquiries linked to this story please contact:
Chris Tuite
Account Director
Rostrum PR
Tel: 0207 440 8673
Email: chris@rostrumpr.com
For Origo media enquiries linked to this story please contact:
Justine McCoy
eServices Adoption and Marketing Manager
Origo Services
Tel: 0131 451 5181
Email: jmccoy@origoservices.com
For sales enquiries for Altus Limited please contact:
Howard Finnegan
Sales Director
Altus Limited
Tel: 01225 827486
Email: howard.finnegan@altus.co.uk
For sales enquiries for Origo please contact:
Richard Clark
Head of Commercial Marketing
Origo Services
Tel: 0131 451 5181
Email: rclark@origoservices.com
For details on how to become a member of TeX please contact:
Carol Knight
TeX
Tel: 01642 666989
Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786
Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of savings vehicles & services and centralised investment propositions. www.tisa.uk.com
Altus
Altus is a UK based business and systems solutions company focused exclusively on the needs of the financial services industry. Formed in 2005, our mission is to be at the forefront of the networked financial services business of the future. For more details please see our website at: www.altus.co.uk
Origo
Origo was launched by 16 of the UK’s leading life assurance companies in June 1989 to facilitate the development of electronic trading between principals and agents for Life, Pensions and Collective Investment business.
Origo’s main purpose is to address cost and efficiency issues for the UK Life, Pensions and Investment sectors by delivering common eCommerce services and standards. Origo drives the adoption of eBusiness by creating a standards-based, competitive and secure trading environment in which industry goals are being met.
Origo is the catalyst that brings different industry groups together, including product providers, wrap platforms, advisers, portals, software companies and others to collaborate on identifying and addressing cost and efficiency issues in a non-competitive environment.
Origo’s Services include: Standards, Unipass, Adviserwise.com, Agency Registration, Agency Administration, Options Transfers, SecureMail and Data Matching. For further information please visit: www.origoservices.com