TechLifeA L i f e & Pe n s i o n s I n d u s t r y

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Is the Excel spreadsheet an ageing Actuary’s best

friend? It appears that the life and pension industry is

meandering blindly into a world of endless spread-

sheets and reporting. Actuaries appear to be afraid to

move away from the 2003 version of Excel despite

those fears being largely unfounded. So why does this

fear persist?

Are spreadsheets really the optimal way to add value

to our industry? Surely, the reluctance to move away

from older models can’t be based purely on the fact

that bespoke spreadsheets make for astounding job

security. After all, despite these recessionary times, it

can’t be wise to snip the actuary who knows how the

discombobulated array of �gures actually work.Of

course that’s not the reason, but there is no doubt

that, actuaries appear to feel bound into a monoga-

mous relationship with Excel till death, or possibly

critical illness, do them part.

It appears that the next generation of actuaries feel

compelled to follow in the path of their professional

elders. Surely, we should grasp newer technologies

with both hands and try to use them to automate the

Spreadsheets - The Ageing Actuary’s Friend // Mark Grall - Actuarial Analyst - Exaxe

drudgery of repetitive tasks.We can then focus on the

more di�cult challenges that the future holds. Excel is

merely a calculation machine, which continuously

needs reprogramming. Surely a pre-programmed

engine with discrete transparent calculations would

provide a better basis for automating and document-

ing actuarial formulae?

Well, the good news is that the future has already

arrived. Con�gurable actuarial calculation engines

already exist and provide many bene�ts not readily

available to those who prefer the multitude of

spreadsheets approach. However, there seems to be a

reluctance to go down this route. Why and what

changes would the actuarial body have to undergo if

we were to move to using automated calculation

engines as a standard?

For a start this solution, once implemented, would

eliminate the need for large actuarial teams, which is

considered by many to be a frightening prospect.

Maintenance would require vastly less knowledge of

bespoke spreadsheets and we might even go as far as

to say could even be managed by a junior member of sta�.

Is the industry fear based on the assumption that

calculation engines would mean that actuaries would

only be needed for new calculations and to overall

manage the system? I’m sure that no one actually

wants to spend his or her career in maintenance

mode rather than tackling new areas. The correlation

of the mortality of a spreadsheet and the author

actuary are ever verging towards one.

Secondly, automated engines mean that actuaries

would be readily able to understand their peer’s

calculations. This would provide more transparency

and surely improve our ailing market image. Greater

automation would likely lead to more mobility within

the actuarial industry. We should not be afraid of

spreading knowledge across the industry by

becoming a more mobile profession.

Thirdly, there is an ever-present risk that these

bespoke spreadsheets contain errors. It is not

unknown for spreadsheets, whose original author has

now been turned out to pasture, to be left...

intelligent solutions for life & pensions

1Continued Page 2...

A double dip recession may overcome inertia // Tom Murray - Head of Product Strategy - Exaxe

One of the key issues being addressed in the 2012

pension reforms is the reluctance of people to take

responsibility for their own future welfare by engaging

in long-term savings. This has been handled by

entrapping people into pension schemes and playing

on their own inertia to prevent them from opting out.

At best this could be described as morally ambiguous.

Inertia is a key driver behind the strategy to make

more people save for their own future and thus

ameliorate the looming crisis in state pension funding

that is being driven by increasing longevity.

Why has it come to this? Having failed over the

decades to get people to start saving of their own

accord the government commissioned various reports

to try to come up with the answer. The committees

thus endowed, notably Lord Turners commission,

shied away from the guaranteed answer of compul-

sory pensions and opted for the approach of

soft-compulsion, exploiting the key human weakness

of inertia to ensure that a large number of employees

who were enrolled would stay aboard rather than

actively seek to opt-out.

However, this policy was designed and decided upon

at the time of the boom in the UK and amidst the

global economic surge. The feeling at the time was

that the general feel good-factor would ensure that

people would not examine the issue too closely.

However, the world has turned and the

ever-dominating global �nancial crisis is changing

attitudes across the population rapidly.

The trouble with relying on inertia to keep the

numbers up is, that for it to work, it relies on not

engaging too strongly with the members so that they

don’t think too much about it, especially at the early

stages when the annual statements and projections

are likely to show poor returns and encourage

hard-pressed workers to opt-out or leave after a short

time in the scheme. Now that so much of the

population is struggling to make ends meet,

deductions from their pay packets are likely to be

scrutinised far more closely and without persuaders,

they are likely to conclude that a pound in the hand

now is far more useful than a future income stream

that isn’t terribly impressive anyway.

Given this scenario, the industry needs to look at

methods of making these reforms work. Inertia is

obviously not the answer. Two approaches that might

make a di�erence are either to move to compulsory

pensions or to engage with the customer in order to

ensure that they fully understand the long-term

nature of the savings and have a proper expectation

of the likely outputs from annual reviews etc.

Compulsion, while an ideal option, is politically

infeasible at the current time. Insu�cient e�ort has

been made to increase awareness of the problems

with future pension provision and the general public

are more obsessed with their day-to-day problems

and surviving the current downturn than in worrying

about their position in twenty or thirty years.

Consequently, the government would e�ectively be

seen to be increasing taxation where they to impose a

compulsory pension system and it would engender

major public opposition in the current economic climate.

Therefore, the alternative is to reach out and engage

with the employees, an approach that runs counter to

the idea of basing the whole approach on inertia. By

engaging with employees, it should be possible to

bring about an awareness of the national problem and

how it will a�ect each of them personally. It should

also be possible to educate them about what to

expect from a pension savings scheme so that they

are not frightened by the ups and downs of the

normal investment cycle and should show how they

can take control and protect their own future by

maximising theircontributions to the scheme.

Those in charge of the qualifying schemes will need

to think about how best to reach out to this new pool

of members; many of whom will never have been in a

formalised savings scheme before. Accessing these

new members will be di�cult via intermediaries,

given the cost of advice, so direct methods need to be

considered.

The big plus is that large amounts of the population

are now happy to interact via mobile platforms and

social media. The advantage of this is that you are

engaging with them on their own terms and this kind

of interaction is highly automated and therefore

low-cost; a key feature in schemes where cost control

is a huge factor.

As the new audience is generally, although not

exclusively, from the middle to low paid sector,

smartphone apps would seem to be the way to go.

These would allow people to see the value of their

own pensions and projections of future income and

could also give them control of their investments

between the selected funds. All of this would

contribute to making employees feel in control of

their own future and would encourage them to stay

within the scheme.

Without this level of engagement, the economic

downturn means that �nancial hardship will

overcome the inertia being depended upon, resulting

in a much higher level of opting out than is currently

expected. If the numbers don’t add up, future

increases in costs for those who are in the scheme are

unavoidable. This will also lead to more opt-outs and

begin a death spiral in terms of viability for the whole

project.

I believe the economic downturn means that a

complete rethink of the strategy for auto-enrolment

needs to be undertaken before we end up with a

costly failure that will inhibit future attempts to make

people take responsibility for their own future.

In this issue

A double dip recession may overcome inertia

Spreadsheets - The Ageing Actuary’s Friend

New Illustrate Plus iPad App Launched

Are PRPPs the gateway to compulsory pensions?

The cloud definitely has a silver lining

Mifid II will encourage passporting

Exaxe reports 30% increase in revenues and job creation plans for next two years

Exaxe Client wins 5 Star Financial Adviser Service Award!

Why choose Exaxe?

TechLife intelligent solutions for life & pensions

Continued from Page 1

running with errors in. Many life insurance companies

have an entanglement of spreadsheets which

frequently crash as this product was never meant to

be pushed to these limits. One saving grace is that

ever expanding computing power has made it

possible to sustain multiple instances of Excel

operating simultaneously. However, this is merely a

“plug the gap” solution at best.

Are actuaries destined to remain wedded to

spreadsheets and become the major barrier to the

growing public desire to access all information on

their assets via smartphones and tablets? When other

industries are moving to working ‘anywhere, anytime’

and are ‘always on, always connected’ there is a danger

that actuaries remain so far behind the curve that we

hold back the entire life and pension industry. We

don’t want to be seen as the’ Luddites’ of the 21st

Century.

For actuaries to take their part in the mobile world, a

move away from spreadsheets is mandatory.

Calculations cannot remain as standalone expertise but

need to be integrated with Internet systems, mobile apps

and potentially be put in the cloud.

The di�cult part is to convince those more senior

actuaries, now running the departments, that this is the

optimal strategy.

One conclusion is clear; Excel 2003 has exceeded its

expected mortality and is now being kept alive by

actuaries who are too emotionally attached to it to agree

to switch o� the life-support.

By Mark Grall, Actuarial Analystat Exaxe

Spreadsheets - The Ageing Actuary’s Friend (Contd.)

Exaxe has launched a new iPad app to support its Illustrate Plus product and facilitate instant quotations for IFAs

Exaxe, the specialist IT solutions provider for the Life and Pensions industry, recently announced the launch of its new iPad app to support its Illustrate Plus product and facilitate instant quotations for IFAs. The app will provide end users with the ability to process quotes on a remote basis and also supports Exaxe’s eApps feature which allows Straight Through Processing (STP) and to take a quote and apply for a policy instantly.

The accessibility and �exibility of the app means users can maximise the bene�ts of Illustrate Plus allowing IFAs and providers by working more e�ciently to speed up the quotation process for providers, advisers

and consumers. The app is RDR compliant.

Philip Naughton, Executive Director of Business Development at Exaxe says:

“The launch of this app is not only an excellent innovation in its own right but also enhances the well documented bene�ts of our Illustrate Plus product. Illustrate Plus supports new and existing business across all products supporting life, pensions, wealth management, group and individual business and this app will now allow our customers to do that in an even quicker and more e�cient way, opening the door to actually process quotes whilst out visiting prospective or existing clients.”

Naughton continues:

“Often �nancial services has been slower than other sectors to adopt technological change to enhance the way it interacts with each other and its consumers. However, with innovations such as this app we are hopeful that the industry will adopt a more progressive and potentially pro�table attitude to enhancements that can improve customer service and e�ciency.”

If you are interested in implementing an Illustrate Plus App in your business please call us on +35312999100 or email info@exaxe.com.

New Illustrate Plus iPad App Launched by Exaxe

2

Like most western countries, the level of pension

savings in Canada is a major issue for the government,

and increased life longevity is driving concerns about

how Canada can provide for its senior citizens in the

future.

Canada has a three-pillar approach to pension

provision, which consists of a basic non-contributory

pillar (Old Age Security Pension, Guaranteed Income

Supplement), a second pillar of statutory contribu-

tions (CPP, QPP) and a third voluntary pillar (group

pension plans, RRSPs).

Given the dramatic increases in longevity to

date—and the fact that these increases are forecast to

continue—Canada needs to look at its options to

ensure that an ever-increasing section of the

population does not sink into pensioner poverty.

In order to extend pension savings among the

populace, the majority of western countries are

considering hard or soft compulsion. In Australia, they

have already made superannuation contributions

compulsory, with employers contributing 12% of each

employee’s salary into a superannuation fund to be

drawn on in retirement. In the UK, they are

auto-enrolling all workers into pension schemes, with

the opportunity for the employee to opt out.

Are the Canadian authorities headed down the same

route?

Enter the PRPPs

The arrival of the Pooled Registered Pension Plans

(PRPPs) brings a dramatic change in the pension savings

landscape. The essence of the change is to make it

possible for those in smaller �rms and among the

self-employed to receive the bene�ts that are enjoyed

by members of larger pension schemes, thereby

encouraging them to join. This should result in better

returns, enticing more people to start saving for their

own retirement rather than relying upon the state.

Are PRPPs the gateway to compulsory pensions? // Tom Murray - Head of Product Strategy - Exaxe

PRPPs can signi�cantly expand the numbers saving,

particularly because employers must facilitate savings

via payroll deduction into the plans, which makes it

much easier for employees to contribute and to

maintain their contribution level. Another positive

aspect of the PRPP regulation is that employer

contributions, which have been shown to drive wages

down, are not required. In e�ect, the employee always

pays and making the system easier to understand

gives employees more ownership of their pension-

hopefully making them focus more on the pension

provider’s performance.

But the question remains: Will the provision of

better-value pension products be su�cient to increase

the numbers saving for a pension, or will the federal

government and provinces be required to take

stronger action by moving to a compulsory or

semi-compulsory system?

Is product enough?

The establishment of PRPPs puts the foundation in

place for moving to a semi or fully compulsory system.

But of course, having the correct product is not

su�cient for compulsory pensions to be accepted by

the general population. Forcing people to pay into

pensions feels like taxation, so the pension providers

will need to engage the individual employees to

ensure they take ownership of the products and

realize the importance of building a substantial

pension fund to live on in retirement.

The regulations for PRPPs allow individual provinces

to introduce auto-enrollment, and Quebec has already

announced a decision to take this line. Quebec is

following the UK model, allowing employees to opt

out of the scheme and hoping that the general lack of

interest in pensions will mean that the majority stay in

the scheme by default. However, this means that the

Quebec government is taking the approach that those

who are not su�ciently engaged will be relaxed

enough to permit the deductions to be made. Is it not

far more likely that they will immediately seek to opt

out from something they don’t understand, particu-

larly when the direct cost to them is so high? Surely

the general population will see this as a special tax for

living in Quebec, unless the other provinces follow

suit quickly.

An alternative to compulsory pensions is later access

to pensions, which is one way to bolster the current

system without increasing funding. However, there

does not appear to be any major desire in Canada at

present to follow the U.S. example, where they aim to

increase the retirement age to 67 by 2024. The state

cannot a�ord to plug the gap—which means it is

going to be very tempting for the provincial and

federal governments to move to compulsory pension

savings as the only way to prevent a dramatic increase

in pensioner poverty.

Conclusion

PRPPs complete the jigsaw for the Canadian third

pillar for pensions, but whether the take-up is

su�cient without compulsion remains to be seen.

Given the scale of the problem in funding pensions

and the fact that longevity increases are not going to

stop, it is hard to see how Canada can avoid merging

pillar two and pillar three during the next decade,

resulting in a fully compulsory system.

TechLife intelligent solutions for life & pensions

Despite one’s best e�orts, it is impossible to avoid

hearing about “The Cloud” at the moment. Even

non-technology based media seem obsessed by it;

calling it the number one trend that can’t be missed.

So what is it exactly is the cloud and how will it impact

the pensions sector?

What is the cloud?

The cloud is the name given to the external hosting of

software services that are provided by software

providers, obviating the need for installing the

software itself on a company’s own servers. This

allows companies to use new software without

hosting the infrastructure or having to be responsible

for maintaining and extending the systems as

regulations and market needs change. It also

facilitates a pay-per-use scenario that further reduces

the cost of ownership of the services.

The systems can be accessed directly from the

Internet, allowing business analysts to immediately

con�gure the products and processes directly without

the need for an IT project. It even allows providers to

con�gure services utilising a number of external

systems and meshing them with their own internal

systems.

Cloud systems are put in place by software providers

and hosted in datacentres, transferring all the

The cloud definitely has a silver lining // Mike O’Malley - Chief Technology Officer - Exaxe

headaches of service delivery and support to experts

and allowing the pension providers to concentrate on

their area of expertise.

What can it deliver for pensions?

The ever-changing world of technology is impacting

every aspect of our lives and the pension’s industry is

not immune. As the general population gets more

used to using the Internet, mobile devices such as

smartphones, and tablets, as part of their everyday

lives, their expectation of being able to manage their

pension savings using that technology is growing.

Subsequently, pension providers and advisers need to

provide the type of services that people expect if they

want to be seen as part of an individuals’ pension

plan.

The problem for most pension providers is that to

date their infrastructures are normally based in-house

and are di�cult to change, having evolved over the

decades and been complicated by mergers and

takeovers during that time. The result is that many IT

managers in pension providers are struggling to

maintain existing services across multiple legacy

systems in order to provide support for current

business practices. This leaves them with great

di�culties when it comes to providing the kind of

‘anytime, anywhere’ services that people now expect.

Given the big increase in the number of young people

possessing �nancial products due to the arrival of

auto-enrolment, the opportunity to reach this market

for further sales is huge, but it will have to be done on

their own terms and in a way that syncs with their

own lifestyles.

Enter the Cloud

Cloud software brings an end to the restrictions

imposed by existing legacy systems and enables

pension IT departments to aggregate best of breed

solutions to provide new products quickly to the

market and to support them with real-time service

levels. This will enable them to attract today’s

generation of customers who already receive these

levels of service from their banks.

How can we utilise cloud solutions?

The question for pension providers is how best they

can utilise the cloud to provide the kind of services

that will make them stand out from the crowd. The

answer lies in re-imagining the whole world of savings

and investments in this current age. What will savers

want in the future and how can we best provide it?

In the past, the only time anyone requested a

valuation of their pension fund was as they

approached retirement. Now, they will expect the

kind of real-time valuation delivered to their phones,

tablets and computers that they already get from their

banks. Cloud systems that can access internal policy

data will allow this to be provided through proven

secure interfaces.

They will expect to be able to make changes that will

take e�ect immediately. They will expect services that

allow them to change their investment pro�les and

switch their investments whenever they want and

from wherever they are; as they can get information

rapidly from around the globe about the performance

of various markets, so they will need to be able to act

on that information immediately.

Use of cloud solutions will allow pension providers to

provide these new levels of service without the

massive investment normally associated with system

changes. The ability to trial external software and

con�gure best of breed solutions into new services

without major upfront investment will allow the

release of new services and will give providers the

ability to rapidly customise those services based on

immediate feedback from their customer base.

Ultimately, cloud solutions provide the �exibility to

innovate that has been sadly lacking in the life and

pension industry.

Is the data safe?

One of the primary fears about utilising cloud services

is the security of the data. The �ag-carrier for the

cloud-based approach has been Salesforce.com

whose sales management services have been adopted

worldwide in most large organisations and this has

helped calm fears over the whole data loss issue. Most

large companies already have their sensitive sales data

in the cloud and therefore have already been through

the compliance issues involved.

Newer cloud strategies have moved to allay fears

even further by allowing the retention of corporate

data within the organisation ensuring that data

protection is fully under the control of the pension

organisation. The cloud services pull the data they

need for service provision but do not store it on the

cloud, saving it back to the corporate data server

instead.

The future is out there

The way forward for life and pension providers is to

unshackle themselves from the legacy systems of the

past and to make use of the cloud approach to bring

new models of pension sales and service that will

resonate with the current generation. Cloud-based

solutions bring pension providers the opportunity to

innovate quickly and respond �exibly to the faster

moving more customer-driven market that is evolving.

Those who do not embrace the new model may �nd

that the cloud adopters will leave them standing in

the rain without an umbrella.

The recent publication by the European Commission

of the latest draft of the Markets in Financial

Instruments Directive II (Mi�d II) has only served to

increase the confusion around the distribution of

investment products in the UK.

It appears that the Commission is determined to ban

commission payments for investment products but

only for independent advisers and not for restricted

advisers, while the UK’s RDR regulations, which come

into force at the start of 2013, will ban commission for

restricted advisers as well as independent advisers.

This leads to an interesting scenario, which was never

really considered when the single market was

envisioned. For a single market, the concept of

market-wide regulation makes perfect sense. Having

the same rules across the Union would prevent

individual countries from giving their �nancial

services industry an unfair advantage by having lower

levels of regulation or even none at all. It would also

provide a consistent approach for consumers,

enabling them to deal with con�dence with

distributors from other countries. What was never

envisioned at the time was that some member

countries would actually increase the level of

regulation on their own industry, thereby creating an

uneven playing �eld by giving their own distributors a

competitive handicap.

However, this is the position that the UK is putting

itself in by implementing more stringent regulations

than are proposed at European level. All any

company, either from an other member state or a UK

one which relocates and ‘passports’ into the UK’ needs

to do to stay receiving commission is to become a

restricted advisor according to EU rules and they can

sell into the UK under the rules of the country

where they are situated.

Ironically, on the same day as the Commission

announced the Mi�d rules, the Federation of

European IFAs (Feifa) announced that they were

receiving an increasing number of enquiries about

passporting from UK IFA �rms seeking to domicile

outside the UK. The release of the Mi�d II draft is

surely going to increase the numbers of those who are

considering taking this way out.

Mifid II will encourage passporting // Kathryn Desmond - Business Development Manager - Exaxe

If we are going to have a single market in investment

products across the entire European Union, and most

of us agree that such a market is desirable, then surely

it makes sense to have a single set of regulations

applying to that market.

The FSA’s strategy of going further and faster than the

Commission in the regulatory approach is not doing

the UK’s �nancial services sector any favours and

could end up damaging it by increasing the number

of IFA �rms which relocate abroad and by encourag-

ing �rms in other member states to increase their UK

operations.

When the FCA takes over, it should take note of this

danger and perhaps try to work closer with our

European colleagues so that the new regulations they

wish to implement are adopted by the commission

and applied EU-wide rather than doing solo runs

which could ultimately damage our industry.

3

TechLife intelligent solutions for life & pensions

Exaxe, the specialist IT solutions provider for the Life

and Pensions industry, recently announced a 30%

increase in revenues for the year ending 2010 and its

plans to expand the business with the generation of

20 new jobs over the next two years.

This revenue growth re�ects the continued success of

Exaxe’s innovative component based solutions for the

Life, Pensions and Wealth Management sector. In 2010

Exaxe secured a contract with Capita the leading BPO

provider in the United Kingdom to licence Illustrate

Plus® to provide full new business and existing

Exaxe reports 30% increase in revenues and job creation plans for next two yearsbusiness illustrations support for all of the books of

business administered by Capita, and will, upon

completion of this programme be used to support in

excess of 25% of all Life and Pensions policies in the

United Kingdom.

During 2010 Exaxe embarked on a market expansion

programme into Canada, Australia, New Zealand and

the Nordics and is currently engaged in detailed

discussions with a number of potential clients in these

markets. Throughout 2010 Exaxe also continued to

expand its o�ering through on-going development of

its other software components and utilities with:

• The launch of their new generation testing utility

Touchstone Plus (bringing their existing Test harness

and Test Manager into a single solution)The release of their

upgraded con�guration tool Product Development Plus 2

• The implementation of the RDR regulatory

requirements across all components

Philip Naughton, Exaxe’s executive business develop-

ment director added, “We are delighted with our

performance over the last twelve months as it

rea�rms our business strategy and provides the

platform for our planned future growth and expansion

into new markets. We are particularly delighted with

this growth in revenues and opportunity to create

new jobs in the current economic climate which has

been challenging; it proves that there is always an

appetite for innovative business solutions especially

where they have a proven track record of being cost

e�ective and delivering signi�cant business e�ciencies.”

Exaxe Client wins 5 Star Financial Adviser Service Award!

MGM Advantage (Marine and General Mutual Life

Assurance Society), previously known as MGM

Assurance, was established in 1852. Their initial

business was providing valuable life assurance to

mariners and sailors and, over the years, they

developed their range to o�er pensions, investment

and protection products.

MGM Advantage was a niche player in the UK Life

Assurance Market. Their primary distribution channel

was through their direct sales force. MGM Advantage

had a 500k policy portfolio and a diverse product

range. However, they also had multiple legacy systems

processing in Batch.

MGM Assurance, as it was then known as, intended to

re-brand and launch the company to the broker

community, a new channel for them. In order to

achieve this they needed to implement a new online

system which had the capability of processing Annuity

type products online. They also required the solution

to have straight through processing including an

online underwriting capability. MGM Advantage

L-R: Melanie Tringham (Features Editor - Financial Adviser), Claire

Barber (Head of Customer Service - MGM Advantage), Dominic

Holland (Comedian and Host)

had short timescales for this project and begun a full

selection process for a modern technology solution in

October 2007.

MGM Advantage went on to become a Five Star Award

winner in the Financial Adviser Service Awards in 2011,

and a Four Star Award winner in the previous three

years in a row following the launch of their new

channel. The Financial Adviser Service Awards are an

independent measurement of who is getting it right,

and who needs to do more work to keep their

customers happy.

Connect with Exaxe

www.exaxe.com

www.twitter.com/exaxe

www.facebook.com/exaxe

www.linkedin.com/company/exaxe

www.youtube.com/user/ExaxeLtd

Google Plus: Exaxe

4

Why choose Exaxe?

Exaxe has enabled Life and Pensions companies

launch new products faster, administer post

retirement products more e�ciently and respond with

greater �exibility to the marketplace for over 15 years.

At Exaxe, we provide expert solutions to companies

around the globe which can be integrated into any

technical landscape. Our solutions are cost e�cient

and our installation process is straight forward with

quick delivery times; our implementations range from

16 weeks to 32 weeks due to our technical structure

and implementation methodology.

Exaxe recognises changes in international regulations

and the increase of new technologies will greatly

a�ect life and pensions companies in the coming

years. Exaxe solutions aim to keep your business on

top of these changes. For instance Exaxe have made

their products RDR compliant to address change in

regulations in the UK. Exaxe have also developed a

mobile app that supports instant quotations for IFAs

with full Straight Through Processing, to leverage

changes in technology, with a major shift towards

mobile/tablet computing.

Exaxe helps companies reduce their costs by

increasing new business acquisition with the ability to

use Straight Through Processing, and reduce costs in

back o�ce servicing. Exaxe solutions allow companies

to reduce the time to market with new products by

70%. Legislative and regulatory changes can be

implemented in one tenth of the time usually taken.

Clients also bene�t from improved customer service

by ease of administration and 24/7 realtime processing.

Exaxe recruits only the best developers and analysts in

their �elds and maintains a thought leadership

environment. All our sta� is kept up to date with

changes in our client’s business and technical

environments.