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Global outlook expands role of transfer agents

Global outlook expands role of transfer agents

20 September 2011

Globalisation of the funds industry has become an increasingly hot topic amongst transfer agents, with an escalating need to manage multiple currencies and multiple time zones. Global custody provision is not a new practice, and this model is extending rapidly to transfer agency service provision.

As the sector consolidates its platforms, there is an increasing focus on addressing the inefficiencies caused by the multiple systems that have become commonplace – pressure is mounting to improve operational efficiency and drive down costs.

To address these challenges, in terms of technology, the way of the future lies with global platforms that offer multi-currency and multi-time zone capabilities, as well as compliance with local rules and regulations.

In addition, as the industry looks to shed the practice of operating across multiple platforms, rationalisation of systems and employing a single integrated platform should be embraced. Adopting a “one-stop-shop” approach to technology and using a single vendor can provide significant cost savings and increased productivity levels.

This single system should also:

  • Be easily configurable to enable faster time to market
  •  Have advanced automation capabilities to:
    • ensure lower risk of human error
    • enable a reduced headcount by reducing manual processing

The key to addressing the globalisation of funds through technology is to not only manage this practice, but to leverage it and use technology to drive operational and cost efficiencies.

How is your organisation addressing the globalisation of funds?

 

About the author

Tricia Riddell

Tricia Riddell

Head of Product, Wealth - EMEA

Based in our London office, Tricia has more than 25 years of experience and is highly respected in the funds industry. She regularly appears in the media.

Tricia’s responsibilities include all aspects of the product strategy for the EMEA wealth management business, in addition to leading the EMEA product management team.