Automation up, cost down
Why is the UK funds industry looking at restructuring now?
The momentum is coming from the government’s Retail Distribution Review (RDR), which aims to increase consumer protection levels in the financial market.
The review has turned the spotlight on the cost structure in the UK funds industry which is unnecessarily high. These costs stem from the huge amount of manual checking and reconciling involved as fund managers and distributors attempt to reconcile huge numbers of bilateral transactions using spread sheets.