Intiger Group Limited (Intiger or the Company) (ASX:IAM) is pleased to provide an update on its recent business activity for the quarter ending 31 March 2018 (Q1) and the Company’s ongoing progress towards its goals. Q1 saw ongoing progress in creating and implementing the building blocks of a sustainable and profitable business. HIGHLIGHTS 1.Commencement of Statements of Advice (SOA) production in CBA pilot programduring March 20182.CBA physical on-site inspection in Manila3.CBA and IAM Structured Training Program agreed4.Expansion of BOOM2 A.I. functionality into superannuation risk scenarios and AllocatedPensions5.Successful expansion of Manila and Cebu Operating Platforms, doubling of IAM’sRG146 Certified personnel numbers6.Successful national high net worth and institutional investor Roadshows in NSW, Vic, andWA.Commencement of SOA production expansion of Commonwealth Bank programs Further to our announcement of 2 February 2018, the Company can confirm that production of SOAs for the Commonwealth Bank (Commonwealth Financial Planning Limited, Financial Wisdom Limited, and Count Limited) Pilot programs commenced in early March. This represents a significant achievement for CBA and IAM after over 18 months of discussions and due diligence required to commence the program. IAM and CBA Program Management Teams are working closely to expand production volumes in line with our capacity and quality controls. Both firms recognise the scale and importance of the opportunity and are expanding production in a structured and disciplined manner. Intiger is focussed on delivering a high quality, reliable, and long-term solution to CBA that delivers exceptional stability and compliant advice for the bank.
CBA on-site formal inspection and audit of IAM Manila operations The Company can confirm that it hosted a team of CBA Senior Management and 3rd Party Site Inspectors to its Manila Operating Centre during early April. The purpose of the on-site Inspection was for CBA and their 3rd Party Auditors to inspect all/every facet of IAM’s: ▪ Production and training process ▪ Data protection training and protocols ▪ Documentation and processing ▪ Physical on-site security protocols ▪ CCTV structures and data retention rates ▪ Data Protection Protocols ▪ Password Encryption Processes ▪ Anti-Hack and Anti Pass Back protocols ▪ Human resource assessment, background checks ▪ Production capacity, scalability and overall site suitability ▪ Contingency planning and back up/recovery site production CBA and IAM successfully commits to a structured training program The Company can confirm that CBA and Intiger have agreed a mutually beneficial training and upskilling program to commence imminently. The program will allow experienced CBA Advice Production Specialists to travel to and embed themselves in the IAM Manila Operations for a two week period to work with the IAM production team to upskill them to the ‘CBA way’ of advice production. Continued Expansion of BOOM2 AI Functionality The Company continues to develop the functionality of BOOM2 by expanding the range of advice scenarios it is capable of processing. These now include risk insurance within superannuation and allocated pensions advice scenarios. Our vision with BOOM2 is to provide online tools that enhance the adviser/client relationship whilst reducing the costs and improving the quality of advice. Importantly, BOOM2 at a licensee level allows control over certain advice parameters that minimise the likelihood that non-compliant advice can be provided. BOOM2 will continue to be a focus of the Company’s development activities. Intiger appoints Global Head of Productivity and Optimisation: As announced on the 28 March the Company is pleased to reconfirm the appointment of experienced financial planning professional Mr George Jaja to the role of Global Head of Productivity and Optimisation. Mr Jaja has circa 15 years wealth management experience and has held pivotal management and advisory roles across the industries most respected tier 1 institutions including: ▪ Commonwealth Bank of Australia: Count Limited, Financial Wisdom Limited, Commonwealth Financial Planning ▪ National Australia Bank’s MLC ▪ AMP Financial Planning ▪ Genesys Wealth Advisers ▪ Colonial First State
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