The advisory software company’s Fastrak Portfolio Build & Review service will be used by the wealth management arm of Sanlam Group to bolster its investment proposition. It is a coup for the four-year-old Sprint, in which Transact recently took a 15 per cent stake.
Jonathan Gunby, chief development officer at Transact, has joined the board of Sprint.
Ian Porter, managing director of SPI, said the new cloud-based system would make the firm’s processes more efficient and ensure it remained compliant. He added that changes introduced by the RDR required firms to maintain the best possible practice across “every aspect” of their businesses, and that Sanlam’s technological choices were driven by its desire to be “at the forefront of industry best practice”.