Univeris has developed a compliance supervision system for investment dealers, which replaces the manual process with online automation, the company announced on Monday.

The new tool, called Supervision+, helps streamline processes for branch and headquarters compliance managers, according to Univeris. It is integrated into the dealer’s book-of-record, providing access to a client’s full investing profile, as well as a full audit trail of all transactions, time and date stamped, that cannot be altered.

“At Univeris, our focus is to build the best technology to help our clients grow their business and to provide them with superior competitive advantage,” said Richard Binnendyk, Univeris EVP and VP, client services. “One of our core areas of expertise is compliance management and Supervision+ is an excellent example of the marriage of technology and compliance for the benefit of our clients.”

Supervision+ launched with Sun Life Financial as its charter client in January 2009.

“The compliance supervision process is a critical aspect of our business,” said Pat Carswell, director of dealer operations in Sun Life Financial’s individual wealth management unit. “With Supervision+ there is now a total transparency of information.”

The growth of compliance has presented enormous challenges for financial services companies to collect transactions and client information from multiple sources, according to Binnendyk.

“We found that by embedding a compliance system into the existing Univeris EWMS* wealth platform we were able to provide immediate, real-time access to complete and accurate information and therefore eliminate the need for laborious manual systems that lacked the full documentation,” Binnendyk said.

Supervision+ also protects and supports financial advisors by giving their compliance managers access to complete and accurate information, according to Univeris. The tool can also be used for business intelligence gathering such as trending data.