IBS Journal October 2015
Backchat The latest industry gossip
Vestra Wealth, an investment management firm based in London and Jersey, has dropped off the Third Financial customer list. Vestra was a taker of Tercero, Third Finan- cial’s flagship solution for wealth, investment and asset managers. IBS understands that Vestra is now pondering the next steps for its IT strategy and
for the time being has extended the licence for its legacy solution, Figaro, supplied by another UK-based specialist vendor, JHC Systems.
Whilst the UK banks are falling over themselves to demonstrate they are well and truly in the digital age, other organisations – government entities in particular – are in no rush (to say the least). Forget the mobile, even email is something of an unknown to HM Revenue and Customs (HMRC). ‘We do not do business by email,’ IBS Intelligence was told. Everything has to be done… by fax. You can just picture an HMRC official surrounded by tons paper muttering in dis- gust: ‘Email (whatever that is)? Nah, this new fad will never catch on!’
Richard Branson’s Virgin Group does not lack ambition. The company’s UK-based finan- cial services operation, Virgin Money plc, is taking on the Bank of England: according the Companies House (the UK’s registrar of companies), Virgin Money’s nature of business is ‘central banking’. And who knows, perhaps the central bank could benefit from the Richard Branson
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