IOOF signals acceleration of platform simplification

Mike Taylor

Managing Editor/Publisher, Financial Newswire

8 October 2021

IOOF has signalled an acceleration of its product and platform simplification program.

The company signalled the possible change of temp as part of an announcement around organisational design which sees the departure of IOOF’s chief information officer, Sharam Hekmat.

The company said that responsibility for the Technology division would move to Chief Operating Officer under the new operating model combining technology and operations more closely aligns technology with the product and platform simplification roadmap.

It said that, concurrently, analysis had been undertaken on the integration roadmap since completion and has identified opportunities to accelerate product and platform simplification, subject to further evaluation, which may change the original technology approach.

“Acceleration of product and platform simplification represents an opportunity to deliver additional synergies which will come with additional implementation costs,” it said.