Legado, a new Edinburgh-based life organisation and legacy planning platform, has launched after receiving £600,000 of financial backing.
The startup’s online platform lets customers store and share documents and information – from wills and policies to pin codes and treasured family recipes. It is available either as a direct-to-consumer product or can be co-branded by enterprises and professional advisers.
The platform is designed to offer a customer-focussed service while helping organisations maintain compliance with GDPR.
By storing important documents and personal mementoes in one central location, users can plan their legacy and better organise their lives. Legado can be used by individuals throughout their life, providing a secure location where documents can be kept and updated at key times.
Users can also nominate specific individuals to have access to select information within their digital vault. The user has complete control over what these parties can see and when.
Customers can use the platform to share key documentation with organisations and other related parties to speed up processing time and help with operational efficiency.
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The startup’s funding came from savings and investments business Prudential and global platform-as-a-service firm FNZ. The launch of Legado’s direct-to-consumer service follows a £50,000 grant from Innovate UK. The grant means that Legado can offer this version of the service for free for an extended period.
Thereafter, users will need to subscribe to the platform for a nominal monthly or annual fee to continue using Legado’s service.
Enterprises can also use the customer-owned digital documentation platform, allowing them to create digital customer journeys, helping reduce paper use and deliver key documentation directly into customer-owned digital vaults.
All information stored within Legado is protected by ‘bank-grade’ security – one of the highest levels of encryption, with users required to follow a two-factor authentication process to gain entry to their digital vault.
“Legado CEO and founder Josif Grace said: “Life organisation and legacy planning is something that can fill many with dread. While it is understandably a sensitive subject and strenuous task, it’s important that services like ours make it as easy as possible to prepare for life’s unexpected events. It’s important to highlight how it is never too early to think about the future and to keep plans updated throughout your life.
“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. Legado removes that aspect and provides one simple, highly secure platform which a consumer has access to and can manage throughout their lives.
“Not only does this provide the user with a central and secure space where they can store an abundance of documents, but they also have complete control over who is able to access specific information. Enterprises will also be able to benefit as they are granted unique access to their client’s affairs which can better shape the counsel and advice they provide.”