IFA firms could traditionally either select large compliance providers where they’d feel confident in their technical knowledge, but got no personal service, or smaller compliance providers where they’d get a superior service, with practical file checks, but would miss some of the wider support functions. Apricity decided to change all this by creating a financial compliance software solution aimed at small firms with the comprehensive knowledge of a large firm.
Problem
IFA’s as part of their day to day roles are required to ensure that they are legally meeting the aims of their clients. This is obviously heavily regulated and requires error free, comprehensive checks on aspects of a financial product, the individual concerned and the suitability of the product. Nothing existed in the modern marketplace to automate this ‘checking’ in a quick and compliant way.
Solution
Sapere alongside the Apricity team designed, developed and built a software as a service (SAAS) solution built using bespoke web technologies to manage the compliance processes of IFA’s across the UK.
The solution integrated with payment gateway GoCardless to seamlessly take direct debit payments for the SAAS solution, FreeAgent for automatically raising and sending the invoice and mandrill for sending adhoc branded up emails.
The solution is an excellent example of integration and harnessing the capabilities of existing third party solutions to create a hybrid solution which underpins the business it was created for.