BT has announced a range of new efficiencies to its BT Panorama platform through a new brand campaign to better serve clients and financial advisers.
In its latest suite of enhancements, BT Panorama has launched a new brand campaign as it enters its next growth phase to evolve alongside the financial services industry.
The new efficiencies include more comprehensive reporting, enabling advisers to save time by using report packs for multiple clients with a clearer design.
New online reporting capabilities for portfolio and investment managers will also allow for greater efficiencies in managed accounts.
Moreover, the platform announced faster approvals with digital consent for client forms as well as simpler bank account verification.
“The advice industry is at a turning point,” explained Rachael Dickinson, BT’s head of marketing.
“The advice practices that have remained resilient through constant change have evolved, with many making the most of platform technology to thrive. BT Panorama is continually being updated, based on advisers’ feedback, to help them manage their compliance obligations and serve their clients more efficiently,” she added.
Approximately 250,000 investors use the platform, which has more than $100 billion in funds under administration (FUA) as of 30 September 2023.
“Just over 20 years ago Westpac acquired BT, then around a decade later the transformative contemporary platform, BT Panorama, was launched,” Dickinson reflected.
In June 2023, Westpac concluded its sale of the BT platform business, which had been ongoing since February 2022, and would opt to retain the platform instead.
Speaking to Money Management at the time, BT CEO Matthew Rady said: “It took a lot longer than anyone would have seen as ideal, but we felt it was important to do it right and we had a lot of interest which was exciting but we couldn’t reach an agreement.”
Since then, platform researcher Recep Peker encouraged the industry to welcome Westpac’s decision to retain the platform.
“There is greater confidence out there about BT Panorama now a decision has been made and that will be good for the platform and advisers will be more welcoming when it comes to considering using it.
“The competition with other platforms will intensify. BT is back, and it brings more competition to win advisers’ hearts and minds,” he said.
