Large parts of the world’s fund industry are struggling to contain the impact of late cash settlements in their fund transactions. The effects range from unwanted credit exposures and time-consuming and costly administrative burdens to damaged client relationships.
The survey exposes the need for more automation of trade to cash settlement processing – and in the updating of trade registers.
These are some of the findings of a survey conducted by Calastone of 51 leading investment managers and fund distributors in the UK, Europe, Australasia and Asia.
Key headlines include:
- Late cash settlements are a major issue for most firms – 55% (UK: 77%)
- Manual processing is the primary risk in the cash settlement process – 60%
- Late payments significantly affect client service – 59%
- Most firms want automated solutions that:
- Streamline payment to trade reconciliation process – 57%
- Automate bank connections for payments/balance checks – 52%
Join the webinar to get a full view of the survey findings and a copy of the report.