Re-registration of assets: technology is key to a smooth transition

Re-registration of assets: technology is key to a smooth transition

12 August 2011

With the UK financial services industry set to embrace re-registration of assets across platforms by 2013, there are several challenges ahead over the next couple of years.

The current re-registration process is complex and time-consuming and moving assets can take months. In addition, a number of providers will not transfer investments in-specie; meaning some investors have to sell their investments and transfer cash to new providers, exposing them to out-of-market risk.

There are also a range of complications linked to industry collaboration, including defining a commonly understood set of implementation systems and procedures. Software interoperability presents another challenge; products and systems must link to re-registration messaging interfaces smoothly to avoid disrupting the re-registration process.

Technology can play a major part in meeting these challenges. Some of the leading solutions available enable the transfer of a broad range of assets and wrappers, providing a common, cross-industry system for re-registration. In addition, elite systems can exceed the 11-day Service Level Agreement (SLA) turn-around set out by TISA, taking under twenty-four hours to complete the process.

Integrating technology platforms can have multiple benefits. Key motivations for the industry are clear:

  • Greater efficiency – improved scalability of operations and reduced costs, resulting in greater profitability for players and lower costs to investors;
  • Reduced operational risk – through the replacement of manual re-keying of orders by straight-through processing;
  • Enhanced service – through improved response times and standardised interfaces.

As the 2013 re-registration deadline approaches, fund managers and platforms need to make critical decisions now.

What are your views – have you engaged technology to smooth the re-registration transition?


About the author

Tony Klim

Tony Klim

Chief Executive Officer

Tony Klim is the Chief Executive Officer and Managing Director for Bravura Solutions and is based in our London office. With almost 30 years of experience in international financial services, Tony’s extensive M&A, sales and consulting experience, coupled with his instrumental role in the development of new products and services, is key to his success as a leader for this global supplier of wealth management, transfer agency and life insurance applications.

Tony’s responsibilities include setting and managing the strategic direction of the company and leading the executive team to continue to deliver robust financial results and modern technology coupled with savvy business thinking.