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Technology / AI and automation

DEC UK UNVEILS ITS FIRST UK VALUE-ADDED NETWORK SERVICE

DEC UK Ltd yesterday launched its long-delayed value added data service for the financial community. The Financial Information Service, FIS, will cater for the needs of the insurance industry in the first instance although DEC has ambitions to bring other sectors onto the network over the next five years including the Stock Exchange, banks and the courts. FIS is a software package enabling financial intermediaries to exchange information over the DEC network with institutions. The software compares personal client information with policy information from an on line database belonging to Planned Savings, enabling the intemediary to make the condidered judgement required by the Financial Services act is now in force. DEC is also promising an electronic mail service by year-end, and plans to enter the electronic funds transfer arena.

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