A new life organisation and legacy planning platform has launched today, following more than £600,000 investment from savings and investments business Prudential and global platform-as-a-service firm FNZ.

Legado is available either as a direct-to-consumer product, or can be co-branded by enterprises and professional advisers, helping them with General Data Protection Regulation (GDPR) compliance.

Individuals can use the online platform to securely store and share their most important documents and information, with the centralised storage making it easier to keep on top of life organisation and legacy planning.

Users can nominate specific individuals to have access to select information within their digital vault, giving control over what these parties can see and when. At the point of life events, customers can quickly share key documentation with organisations and other related parties to speed up processing time.

Enterprises can use the customer owned digital documentation platform to create digital customer journeys which would previously be fulfilled using paper.

The launch follows a £50,000 grant from Innovate UK, which allowed Legado to offer this version of the service for free for an extended period. Thereafter, users will be able to subscribe to the platform for a nominal monthly or annual fee.

All information stored within Legado is protected by ‘bank-grade’ security, with users required to follow a two-factor authentication process to gain entry to their digital vault.

Josif Grace, founder and chief executive of Legado, said: “We live in a digital world, however when it comes to forward planning, the industry still relies on paper, physical documents, unsecure emails and other file hosting services."

Adrian Durham, FNZ Group chief executive, said: “Legado will be available on the FNZ App Store we have developed for platform customers, which enables approved third-party providers to seamlessly connect with platforms and provide services to users – promoting choice within the wealth management market.”

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