Fintech and pension switching specialist Origo is to make it easier for people to switch their Isas, its recently appointed managing director has said.
Anthony Rafferty said the provider wants to do for Isas what it has achieved for pension switching to date.
Isa switching is too complicated as Isas need to be re-registered in order to be transferred and often this is not done digitally, he said.
The transfer process can take up to 15 working days.
Mr Rafferty said: "We want to transform the market. Everybody is using a different [set] of standards. It needs to get quicker and slicker."
Origo's pension switching facility Options Transfer is used by more than 95 firms, including major pension consultancies, life companies (which collectively own Origo), platforms and self-invested personal pension (Sipp) providers.
The service currently has an average transfer time of 11 calendar days, with 85 per cent of transfers completing within this timescale, although firms' transfer performance can vary from minutes to weeks, Origo stated.
Origo estimates the vast majority - about 90 per cent - of pension transfers in the contract market go through its service.
In recent months the firm devoted the majority of its time to developing the government's pensions dashboard project.
It has created three working prototypes so far and is confident it will be able to deliver adviser access to the dashboard in time for 2019 launch, although no technology provider has yet been chosen by the government.
Origo has already created the relevant functionality, which allows access to be made through a secure delegated authority, compliant with the General Data Protection Regulation, which comes into force in May 2018
Mr Rafferty said: "It is inevitable advisers will have access and I am confident we can deliver that access from day one. I think consumers would want it.
"I am not sensing providers don't want to provide access it is just they have got a lot of stuff to do. It is easier than you might think. It is just about implementing a number of application programming interface (APIs)."
Mr Rafferty took over at the helm of Origo, succeeding Paul Pettitt as managing director, on 1 March.
carmen.reichman@ft.com
