Misys IFA services today announced plans to open a new quality assurance centre on the outskirts of the Indian capital, New Delhi.
The company says the centre, which supplies support and research services for Independent Financial Advisers (IFAs) in the UK, will enable Misys to increase its monitoring and compliance checking capabilities among the 7,000 IFAs who are members of its five IFA networks and service company. The dedicated facility is being established in conjunction with NIIT SmartServe, an Indian outsourcing company which has worked with Misys on previous projects.
It is expected that up to 80 people will be employed at the centre, which is being developed as part of a five-year, US$10m agreement. Misys IFA Services, which will continue to process documents at its existing centres in the UK, will monitor and support the New Delhi operation during the set-up period.
“This is a substantial step forward towards our vision of delivering higher quality to the IFA market,”says Patrick Gale, Chief Executive of Misys IFA Services. “Our network members can be assured that the new quality centre, in partnership with NIIT SmartServe, will help to raise standards across the industry.”
R Venkatesh Iyer, President NIIT SmartServe added: “The $10m order from Misys is a breakthrough not only for NIIT SmartServe but also for the industry as a whole. This is one of the first core processes to be migrated into India, especially in the area of insurance. The NIIT SmartServe-Misys partnership will take forward the values of trust that the two organizations have built as a result of their previous ongoing relationship.”