- Commercial agreement signed with Centrepoint Alliance (ASX:CAF), one of Australia’s largest non-institutionally owned financial services organisations, and the country’s leading non-aligned financial planning and SME insurance premium funding company
- Decimal’s unique platform will provide advice and compliance solutions
- Partnership provides further technical validation of the capabilities of the Decimal Financial Services advice platform
- Agreements, such as these, form a key part of Decimal’s commercialisation strategy
- Decimal continues the year with a solid sales pipeline
Decimal Software Limited (ASX:DSX and ‘the Company’) is pleased to announce that it has signed a commercial services contract to provide advice and compliance solutions to Centrepoint Alliance (ASX:CAF).
CAF is one of the largest non-institutionally owned financial services organisations in Australia and the country’s leading non-aligned financial planning and SME insurance premium funding company, encompassing Professional Investment Services (PIS) and Associated Advisory Practises (AAP). The company has relationships with 1,500 advisers across Australia who provide financial planning and accounting services and collectively advise on an estimated $25bn of assets. CAF services include funds management, investment platform products, insurance premium funding and other niche financial services.
CAF recognised the unique capability of Decimal’s financial services platform to enable the delivery of a seamless advice experience to a mass market and also automate the advice implementation and compliance process. CAF has indicated that the average adviser spent 72 per cent of their time on compliance and administration. The Decimal platform will be piloted with Centrepoint Alliance’s salaried advice business, Alliance Wealth & Protection.
This agreement is further evidence of incumbent players in the traditional advice market recognising the benefits of new advice models. This announcement follows the Company’s first step into the mutual banking market with the partnership agreement with WA’s largest locally owned and managed bank, P&N Bank, announced last week. This, coupled with existing partnerships including QSuper and Mercer, is accelerating Decimal’s own expansion and reach within the financial services industry.
Decimal CEO Australia & NZ, Carolyn Colley said:
“This commercial agreement is an important step for Decimal. It provides the Company the opportunity to work with a market leader in the Insurance and Financial Services industry. Having such an important player in the sector leverage our products is an important validation of our technology and its capabilities. As part of the Company’s strategy, Decimal continues to seek further commercial partnerships and channel partner distribution agreements in the Financial Services advice market.”
Source: Decimal
