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PROJECT DETAILS
Website : LV= Adviser
At the heart of the business is Adviser Centre, a platform for financial advisers to manage tools and services spanning
- Life Insurance
- Investments
- Retirement
Overview
The LV= Life side of the business are a warm and friendly collection of teams, striving for the very best for their clients and each other.
We played a crucial role in the development and continuous improvement of the LV= Adviser Centre, a pivotal platform for financial advisers managing tools and services in life insurance, investments, and retirement. Our involvement was central to keeping the system running securely and efficiently, in compliance with financial service regulations.
Adviser is an essential application for day to day running of the business providing financial advisers with the tools necessary to support their clients.
Why Financial Adviser software?
For companies relying heavily on financial adviser software, mitigating reliance on a single solution or vendor is crucial for maintaining operational continuity, ensuring data security, and enhancing client service. Diversification and preparedness can help prevent disruptions caused by software issues, changes in vendor policies, or evolving industry requirements. Here are several strategies companies can adopt:
- Comprehensive Market Evaluation: Regularly assess the market to stay informed about emerging financial adviser software that may offer better features, security, or compatibility with evolving regulatory requirements. This ongoing evaluation helps in identifying potential alternatives or supplementary solutions.
- Implementing a Multi-Vendor Strategy: Avoiding dependence on a single software provider by employing a multi-vendor strategy can enhance operational resilience. Using multiple solutions for different aspects of financial advising—such as portfolio management, customer relationship management (CRM), and financial planning—ensures that the failure or discontinuation of one software doesn’t halt all operations.
- Building an Agile IT Infrastructure: Developing an IT infrastructure that can easily integrate with various software solutions allows for smoother transitions between platforms and reduces downtime during software changes. This flexibility ensures that the company can adapt to new technologies without significant operational disruptions.
- Training and Development: Investing in regular training for staff on multiple software platforms increases the team's adaptability to changes in software tools. A well-trained workforce can transition more smoothly to new systems when necessary.
- Data Portability and Interoperability: Prioritizing software solutions that support data portability and interoperability ensures that critical financial data can be transferred securely between different systems. This approach reduces the risk of data silos and ensures continuity in client service and reporting.
- Robust Data Backup and Recovery Plans: Implementing comprehensive data backup and recovery strategies is essential for mitigating risks associated with software failure. Regular backups and a clear, tested recovery plan ensure that client data is not lost and services can be quickly restored.
- Contractual Safeguards and Vendor Management: Establishing strong contractual agreements with software vendors that include service level agreements (SLAs), data protection policies, and contingency plans for software discontinuation or company insolvency protects the company's interests and provides legal recourse in case of issues.
- Client Communication and Transparency: Maintaining open communication with clients about the software tools used and any changes to these tools helps manage expectations and build trust. Transparency about how their data is managed and protected reassures clients and supports client retention.
- Regular Review and Risk Assessment: Continuously reviewing the software solutions in use and conducting risk assessments related to their performance, security, and compliance with regulatory standards helps identify potential vulnerabilities and areas for improvement.
The Challenge
Keeping LV= Adviser Centre running, secure, updated and healthy with zero downtime while ensuring best practices and compliance with financial service regulations.
- Operational Continuity: Ensuring zero downtime for the platform, which is essential for the day-to-day running of LV’s business.
- Security and Compliance: Adhering to stringent security best practices and compliance with financial service regulations.
- System Enhancement and Maintenance: Continuously updating and improving the platform while maintaining its health and stability.
If you would like some assistance with .NET MAUI | Azure | Azure DevOps Services | Blazor Development then please get in touch, we would be glad to help.
The Solution
Our role was to fully customize and develop services, applications, and features for this key enterprise-level system while ensuring security best practices and compliance with financial service regulations were met.
- Custom Service and Application Development: We focused on customizing and developing services, applications, and features for this enterprise-level system.
- Hybrid DevOps Process: Our team created a hybrid DevOps process, rolling out upgrades and maintenance releases with a 100% success rate.
- Security and Compliance Focus: Throughout the development, we ensured that all security best practices and compliance with financial service regulations were met.
- Independent Module Extension: We extended the platform with independent modules, enhancing its functionality and user experience.
- Prototype Document Library Development: A prototype document library with intelligent cloud search and ordering capabilities was built, using a rich client framework.
We created a hybrid DevOps process and set of applications to roll out upgrades and maintenance releases with a 100% success rate. Care, best practices, diligence, and a sense of ownership created a state of stability not seen prior to our engagement.
We extended the platform with independent modules.
We built a prototype document library with intelligent cloud search and ordering capabilities using a rich client framework.
The Results
Our involvement led to significant achievements:
- Enhanced Operational Stability: The Adviser Centre maintained uninterrupted operation, crucial for LV’s business continuity.
- Improved System Security and Compliance: Our solutions ensured that the platform met the highest standards of security and regulatory compliance.
- Innovative Feature Development: The introduction of new modules and the document library prototype significantly enhanced the platform’s capabilities.
Business Benefits
The enhancements brought substantial business benefits:
- Increased Adviser Efficiency: The improvements in the Adviser Centre enabled financial advisers to support their clients more effectively.
- Confidence in Compliance: The adherence to financial regulations bolstered confidence among stakeholders and customers in LV’s commitment to compliance.
- Innovation in Financial Services: The integration of modern technology solutions positioned LV= as a leader in digital transformation within the financial services sector.
Assemblysoft’s contribution to enhancing the LV= Adviser Centre underscores our expertise in developing and maintaining complex financial service platforms. Our commitment to operational excellence, security, and regulatory compliance ensured the platform's continuous success, demonstrating our ability to deliver innovative and reliable solutions in the financial services industry.
At Assemblysoft we specialise in Custom Software Development tailored to your requirements. We can onboard and add value to your business rapidly. We are an experienced Full-stack development team able to provide specific technical expertise or manage your project requirements end to end. We specialise in the Microsoft cloud and .NET Solutions and Services. Our developers are Microsoft Certified. We have real-world experience developing .NET applications and Azure Services for a large array of business domains. If you would like some assistance with Azure | Azure DevOps Services | Blazor Development | .NET MAUI Development or in need of custom software development, from an experienced development team in the United Kingdom, then please get in touch, we would love to add immediate value to your business.
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