Fincast continue to enhance their system through new features and functions. For example, earlier this year they deployed a flexible report builder that is easy to use to create bespoke SOA templates that are automatically populated. Enhancements to their services are guided by user feedback, ensuring they are practical and address their clients’ needs.
| End User | Consumers and Advisers |
| Advice Process Steps | Scoping of advice Goal identification Assessing finances SOA preparation Implementation Review |
| Benefits | Process efficiency Engagement uplift Time saving Cost to serve reductions Compliance benefit |
| Cost per user per annum | Dependant on how the client and how they wish to use the system. |
| Time saving per client | More than 3 hours per client |
| Cost saving per client | Using the system, Advisers can see significantly increase the number of clients they see. |
| Integration | Fincast uses API technology meaning it can easily integrate with adviser’s systems. For example, we have already completed integrations with a number of platforms including Netwealth. |
| Website embedding | Yes |
| White labelled | Yes |
| System prerequisite | No |
| Single sign on | Yes |
| Data storage | Client data is stored in the application which is Cloud Based on AWS. Each client has their own secure version of the system and cannot access other’s data. |
| Privacy standards | Australian Privacy Principles (APPs) as set out in the Privacy Act 1988 (Cth) |
| Limits on use | No |
| Disaster recovery and business continuity plans | Yes |
| AFSL approval | We are currently working with approximately 30 AFSLs. We have also worked with a major financial institution offshore. |