The funds business historically has not had the same focus on automation and straight through processing compared to the traditional securities industry, noted one of the panelists at the Sibos session entitled Automating your European and Asian fund distribution business. A bottom line benefit or nice to have. But panelists agreed that this attitude is changing as the fund industry faces new pressures.
Michele De Boe, programme manager for SWIFTNet Funds, securities industry division, noted that in an informal board room survey at the Fund Forum conference in Monaco this year, 93% of participants said they would opt for immediate automation of their fund distribution.
...