TRANSFORMATION & ORGANISATION
The Dawning of a New Era in Data Management in the fund industry
KNEIP, the Luxembourg based fund industry specialist has unveiled today its ground breaking digital service platform which will allow more transparency, efficiency and effectiveness on the investor’s thinking.
September 27, 2018
KNEIP, in the pursuit of transforming the financial services industry has invested in creating a new single layered platform to manage the entire fund lifecycle from end to end. This revolutionary concept leads to digitalisation of investor data, will allow more transparency, reporting to be more efficient than ever before and have greater effectiveness on the investor’s thinking.
Bob Kneip, Founder and Chairman of KNEIP comments “This is the beginning of a new era for clients to have full control and transparency on all of their data. By giving the data back to the client, we can unlock the complexity and remove silos for any market, regulatory document, or piece of data to be disseminated and filed to market stakeholders and back.” “The new single layered, digitally driven platform from KNEIP is putting asset managers back in control of their data. Not only will this dramatically cut complexity and cost, it will also boost effectiveness”.
The platform works by ingesting all unstructured data, with machine learning and artificial intelligence tools, then processes this data to work in a structured format. The new digital platform has intuitive tools that put asset managers directly in control.
Regulatory, distribution and marketing imperatives require asset managers to process data from dozens of sources, transform this data, and then communicate the results effectively to clients, distributors, supervisors, partners, data providers and more.
KNEIP have been assisting asset managers meet regulatory requirements for 25 years, and their new digital platform will take this to the next level. The key short-term advantage is dramatically reduced costs. “We have one client using the platform who is now spending $65,000 on processes that used to cost them $2 million”, commented Bob Kneip.
Streamlining the process was a key component in the digital transformation. Historically, an asset manager who might want to launch a fund was required to use a fund registration team to compile the data and build reports, then external and internal legal departments would need to scrutinize it before sending it to the regulator. Now fund managers just have to drag their fund (be it based in Luxembourg, Dublin, the UK, the US or wherever) into their target market, and the data and documents are compiled automatically to suit the requirements of each national regulator. Similarly, with PRIIPs, MiFID II and pension fund document templates: users log on, choose the option they require, and the information is ready in five minutes.
As well as these streamlined processes saving time and money, they also offer greater ability to trap errors early. If there are any problems with a regulatory application dossier these will be identified instantly and can be corrected. In the past, time and money was wasted as files were rejected by the regulator merely due to an administrative oversight. With correctly filed dossiers will boost effectiveness too.
KNEIP believes this move will revolutionise the fund industry leading to a new dawn in the way data management is perceived across the globe.