The revisions mean that the procedure to apply for the 'digital key', which provides easy and secure access to products and services on the internet, will be much more straightforward for IFAs and will require significantly less paperwork.
Origo asked AIFA to review its application procedures in January 2003 following feedback from IFAs. As a result, Origo decided to shorten the contract and guidance notes and make them clearer. It is now both easier for IFAs to decide whether or not to sign up for the UNIPASS system and to apply for the certificate.
The new UNIPASS guide can now be accessed on AIFA's web site: www.aifa.net. As well as reviewing the UNIPASS contract for IFAs, AIFA also worked with Origo to ensure consistency between the revised process and the UNIPASS website.
Paul Pettitt, managing director of Origo said: "It is important that we make the application process for UNIPASS as quick and easy as possible for IFAs. As the trade association which represents the UK's IFA industry, AIFA was the ideal body to assist us with the review of our current procedures.
"Following AIFA's review, we have drastically reduced the amount of reading and paperwork involved in the UNIPASS application process for IFAs. Now that AIFA has published the new guidance note on its web site, we hope this will make it easier for IFAs to get on board.
"As well as making life simpler for the IFA, we've also been able to reduce the time it takes us to process applications for the certificate. This means that users are receiving their UNIPASS certificates more quickly than ever before."
Launched in 2002, UNIPASS now has over 4000 users throughout the UK. As of August 2003 UNIPASS is accepted by 11 institutions including: Scottish Equitable, Standard Life, Norwich Union, AXA, Prudential, Skandia, CoFunds, Webline, IFAEngine, Clerical Medical, and Friends Provident.
Commenting, Paul Smee, director general of AIFA, said: "Origo aims to deliver products and services that make life easier for people working in the UK's financial services industry. By simplifying the UNIPASS application process for IFAs, Origo has effectively removed any remaining adoption barriers, such as the length of time it takes to apply for the certificate and the complexity of the information involved. AIFA sees the clear benefits of the UNIPASS system and would urge IFAs to adopt the technology and reap the benefits."
