IRESS to upgrade The Exchange annuity comparison tool

To comply with FCA changes

Hannah Godfrey
clock • 2 min read

IRESS has revealed plans to automate the process of obtaining whole-of-market annuity rates on its comparison and transaction portal The Exchange in the wake of recent regulatory changes.

The technology supplier said it was responding to the rules recently announced by the Financial Conduct Authority (FCA) in policy statement PS17-12 which, from March 2018 will mandate annuity providers to inform their customers how much they could gain from shopping around before they purchase an annuity. IRESS said The Exchange's new functionality would automate the process of obtaining whole-of-market rates, enabling annuity providers and financial advisers to present the comparison of rates needed to meet the FCA's requirements on annuity prompts. The company's executive general ma...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

FCA reveals first group of financial firms to take part in AI testing

FCA reveals first group of financial firms to take part in AI testing

To deploy ‘safe and responsible’ AI

Cristian Angeloni
clock 03 December 2025 • 1 min read
Providers have 'clear role' to help advice firms with AI governance support

Providers have 'clear role' to help advice firms with AI governance support

Less than 5% of advisers have a full AI policy

Isabel Baxter
clock 02 December 2025 • 3 min read

Fighting financial fraud requires cutting-edge tech – and more besides

'Financial fraud has come a long way since Bruce Wayne's day'

Steve Andrews
clock 28 November 2025 • 4 min read