BT has launched the Robotic Integrated Technology Administration (RITA) feature on BT Panorama, which enables advisers and their support staff to track the status of transactions via the platform’s user interface.
Previously BT Panorama users had to call BT to check on the status of transactions, and forms submitted offline, with over 60,000 advice practice calls in 2021 checking progress updates relating to services like onboarding clients, withdrawals and amendments.
RITA gives advice practices a business view of their transactions and forms at their fingertips through the platform’s user interface, saving substantial follow-up time, which could equate to up to 50 hours per year for an advice practice with 300 clients.1
RITA is a fast automated service request tracker and can track over 50 different forms and 398 transaction types.
After conducting a pilot of RITA with 50 advice practices, on 22 August, BT made the feature available to the more than 6,000 advisers and 10,000 support staff using BT Panorama.
“RITA is a critical element of BT’s support to advice practices, to help them become more efficient and streamline their operating model,” said Chris Mather, Head of Platforms Distribution, BT. “Most of the advisers and support staff on our platform prefer to access information online, to save time, and we’re continuously looking at how we can support them.”
Introducing RITA is part of BT’s commitment to supporting quality financial advice to thrive and follows other time-saving developments designed to ease the administrative burden on advisers and their teams. Such as the introduction of digital consent, the usage of which saw increased take-up in the June 2022 quarter, up 10 times compared to June 2021. BT’s chatbot “Blue”, which earlier this year was made available on the BT Panorama mobile app, is another time-saving enhancement which enables advisers to find answers about using BT Panorama, with some efficient and friendly guidance from Blue.
As part of its drive to be advisers’ platform partner of choice, a key focus for BT is creating efficiencies for advice practices’ support teams. BT’s ongoing Best Practice series in partnership with Elixir Consulting has been tailored for support staff, and so far has attracted over 600 advice practice personnel, from around 450 advice practices.
“Practice professionals and office administrators are critical to improving workflows, managing client expectations and the growth of advice practices – and so we are enhancing BT Panorama in ways that align with how they prefer to work,” Mr Mather said.
“Whether your practice is working with mass affluent individuals or high net worth family offices, BT Panorama enables the delivery of quality advice. Driving efficiencies in back-office processes is a key part of BT’s strategy to support advice practices of all sizes,” Mr Mather concluded.
Future updates to RITA will allow full automation for completing forms, while Blue’s capabilities will also be expanded.
More Information
Lisa Parrett
Media Relations, BT
M: 0432 933 796
E: Lisa.Parrett@btfinancialgroup.com
Downloads
1. Based on BT data. In 2021, BT fielded approximately 60,000 phone calls on status checks from advisers and support staff following up on receipt of forms, progress updates and estimated timeframes for completion when submitting manual forms, totalling 10,000 hours each year; and estimated to equate to approximately 50 hours for an advice practice with 300 clients.
