The deal forms part of Sesame’s strategy of building technology partnerships with best of breed suppliers in order to help its members enhance their business efficiency and service to clients. In January this year Sesame announced that Vertex Financial Services, parent company of 1st – The Exchange, had acquired its Sesame Office technology business and had been chosen as its preferred life and pensions technology partner.
Under the long-term strategic partnership, Sesame will integrate its back and front office systems with the Exweb and Exweb Broker versions of the portal to deliver e-trading services and create a joined up proposition for members.
By subscribing to The Exchange’s Exweb services, members will gain access to a broad range of products, supported by over 50 product providers, as well as comprehensive e-services such as electronic new business and tracking.
The agreement also provides for a substantial joint marketing and adoption programme to ensure Sesame members receive all necessary training and support to gain maximum value from the portal services.
Stephen Young, Sesame’s sales and marketing director, says: “Our deal with 1st – The Exchange is a logical next step following our strategic technology partnership with Vertex unveiled earlier this year. Many of our members are already accustomed to using the Exweb portal, and we look forward to working together to build awareness and provide guidance for our members on the broader benefits it can deliver to their business. This latest deal is part of our drive to help our members continually enhance their business efficiency, client service and revenue opportunities.”
David Child, managing director of 1st – The Exchange, comments: “The acquisition of Sesame Office earlier this year really strengthened our strategic relationship with the Sesame network and provided a valuable insight into the needs of its members. We are delighted to have secured this significant new contract, and are excited about the new partnership.
“We feel confident that Sesame members will see true business advantage from using such a rapidly evolving portal proposition – particularly as we are independent and have the most expansive provider and product range, not to mention the industry’s most advanced annuity and equity release services.”
