Altus has extended ATG to link to the BACS Cash Deposit ISA transfer service to facilitate electronic transfers from Cash Deposit ISAs held with Banks and Building Societies, to Stock & Shares ISAs held by Investment Platforms, Execution Only Brokers, Wealth Managers and Fund Providers.
The new ATG connector supports communication with the BACS service by providing documents in XML format which can then be processed via the BACS service website. Messages received from the BACS service website can subsequently be loaded into ATG to process responses
“ATG’s new capability to transfer Cash ISAs significantly improves our internal processes. We have seen a reduction in transfer times, operational processing, paperwork involved, and cheques issued. Our average transfer time for Cash ISAs has come down as a result, and in some cases we have seen money coming into our accounts within a couple of hours from sending notifications.
Altus’s collaborative and supportive approach throughout the testing and implementation stages has been invaluable.”