ANZ, Promina sign Coin
Coin software will now help support three of Australia’s four banking pillars, with ANZ announcing it had signed a contract with the Macquarie Bank-owned advisory software provider.
And in another big win for Coin, it has also signed insurance and financial advising giant Promina.
At ANZ Financial Planning (ANZFP), Coin will replace the in-house financial planning outfit’s current provider, Boss.
An ANZ spokesperson said Coin was chosen over a number of trialled software providers as it “best met our business needs”.
ANZFP head Mike Goodall said Coin would give advisers more time with their clients, and the web enabled program would be rolled out to advisers free of charge — with the rollout starting at the end of 2006.
The consultant hired to advise Promina on its deal with Coin, Marc Herrmannsen, said Coin was chosen to give the group a standard offering.
He said the fact that Coin is web enabled, has a risk and investment capability, a centralised client relationship management function and can be integrated into its platform offering and back-office programs were the main reasons for it being selected over others.
He said advisers would not be forced to use Coin, but added the offering would probably be good enough to attract them.
Coin has also signed deals with the CommonwealthBank and Westpac Bank.
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