Financial services consultancy the lang cat has launched Platform Analyser, an online tool for financial advisers to “simplify” the investment platform selection process.

The Scottish company says the new £25 a month regtech’ service combines the firm’s broad data covering 11,500 data points and 25 advised platforms with an interactive tool built with the Product Intervention and Product Governance Sourcebook (PROD) in mind.

Advisers can use the data to create quick comparisons or full due diligence reports, automatically documenting the process to demonstrate FCA compliance, says the company.

The Platform Analyser subscription includes insight and publications from Leith-based lang cat, known for its deep knowledge of the platform sector and quirky sense of humour.

Terry Huddart, head of proposition at the lang cat, said: “Over the last 18 months we’ve been working closely with advisers and planners to build an online tool that combines our unrivalled insight into the advised platform market with interactive due diligence functionality.

“Initial feedback from our adviser testing panel has been incredibly positive about how much time and effort the service can save in terms of platform due diligence.”

The consultancy’s static Platform Directory remains free to access for those looking for up to date information on the advised platform market.