When Platforms Change Technology
72 Kilometres of ocean swells and R120 billion in motion: what small swims teach us about big tech changes
Imagine swimming through pitch-black ocean water at midnight, fighting freezing Atlantic swells, dodging jellyfish stings, with only the distant flash of the Cape Point lighthouse to keep you on course.
That was the reality for Georgina Smith, Head: Investment Distribution Channel Execution at Standard Bank Investments, during her record-breaking 72km relay swim from Fish Hoek to Hout Bay.
And as she sat down with Francois du Toit on PROpulsion Live to answer a critical industry question: “When platform technology changes, what should advisers do?” She revealed a striking truth: navigating an ocean marathon requires the exact same grit, preparation, and mindset as elevating R120 billion in client assets.
When platform technology evolves, advisers aren’t usually the ones writing the code or steering the IT project. But you are on the frontline dealing with the impact on your team, your practice, and your clients.
So, how do you navigate a massive technology shift without losing your bearing? Here are three core lessons from moving the administration of R120 billion off the legacy STANLIB LISP (STANLIB Platform) and onto the Purpose-built INN8 Investment Platform.
1. Safety first, always: precision beats speed
When you’re swimming around Cape Point in three-metre swells, taking shortcuts isn’t an option. The exact same rule applies to managing client wealth.
Through the Elevate programme, we moved R120 billion from the legacy STANLIB LISP (STANLIB Platform) to the INN8 Investment Platform across four carefully managed tranches. Because client security and data integrity are non-negotiable, our tech team spent months conducting global study trips and running multiple “dress rehearsals” before a single rand was touched.
The result? Across all asset transfers, unit matching was accurate to 0.01 of a unit, a tiny variance existing solely because the legacy system went to three decimal places, while the INN8 Investment Platform measures to four.
The takeaway for advisers:
Operational control is everything. If data isn’t clean or ready, we don’t move the administration of that account until it is. Taking the extra time to ensure data arrives safely is always the right call for client peace of mind.
2. Managing expectations: honest communication builds trust
In Tranche 2 of the Elevate programme, we initially communicated an ambitious goal to move R60 billion in asset administration. However, during our pre-move dress rehearsals, our quality checks flagged that certain data sets weren’t as clean as we demanded.
We made a tough but necessary call: we held back R30 billion until the next tranche to resolve those underlying details with advisers.
Did it create a few difficult conversations? Yes. But it taught us a vital lesson about setting expectations:
Delight = Reality – Expectations
When reality exceeds expectation, you build deep trust. When expectations outpace reality, unhappiness follows. By re-aligning our communication framework for Tranche 3, we achieved an 85% to 90% direct hit rate on expected account moves.
The takeaway for advisers:
Don’t overpromise to clients during a period of practice change. Communicate early, be transparent about timelines, and keep them updated on progress, even when plans adapt.
3. Don’t be a passenger: adoption is a team sport
Transitioning your practice from a 16-page paper application form on a legacy platform to seamless, digital onboarding on the INN8 Investment Platform is an incredible leap forward. But tech is only as good as your readiness to use it.
Advisers who logged on, ran test transactions, and attended masterclasses before their clients were elevated experienced virtually zero operational friction. On the flip side, those who waited until Monday morning found themselves facing a steep learning curve.
To support this managed change programme, we invited the entire financial community to learn alongside us:
- 24,000+ attendees joined our webinars and masterclasses this year alone.
- 10,000+ advisers and team members mastered specific platform features, from living annuity anniversary adjustments to static data updates.
- 3,000+ end-clients attended dedicated client reassurance sessions to see how their investments are protected.
The takeaway for advisers:
When technology changes in your practice, take your whole team on the journey with you. Put a transaction through, test the digital workflow, and get comfortable with the tools before you need to use them in front of a client.
Purpose-Built to simplify your life
Whether you’re stuck in thick kelp at 4:00 AM waiting for the swell to clear, or upgrading your practice technology stack to better serve your clients, success comes down to preparation, resilience, and having the right partner by your side.
We sat down with advisers before writing our first line of code because we believe technology should work for you, not against you. After all, the INN8 Investment Platform is Purpose-built to free up your time so you can do what you do best: give your clients the financial advice and support they deserve.
Click here to learn more about INN8.
Ready to take the next step in future-proofing your practice?
Explore our latest and upcoming webinars, dive into our digital onboarding guides or feature releases.
You can watch the full conversation between Georgina Smith and Francois du Toit on When Platform Technology Changes, What Should Advisers Do? to explore more insights from this episode of PROpulsion Live.
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