5 Ways to Optimise Costs While Meeting Regulatory Demands
With rising regulatory demands like EPT and EMT affecting asset management in Europe, many in the industry are feeling the pressure to meet current compliance requirements and stay abreast of new rules, all on top of the existing incentives to grow their business.
From our vantage point at the center of the investment industry, we speak to asset managers every day that want to create efficiencies and optimise their costs while remaining compliant.
What Modern Asset Managers Say They Need:
- Templates for accurate and timely regulatory reporting
- Streamlined processes to reduce manual effort
- Enhanced transparency and control over compliance processes
- Flexibility and foresight to adapt to changing regulatory landscapes
- Ability to scale compliance efforts alongside business growth
As a result of these conversations, we’ve compiled five key strategies to help asset managers meet their compliance requirements without sacrificing growth.
Embrace Automated Data Management
Manual data handling is not only time-consuming but also prone to errors. By implementing automated data management systems, you can significantly reduce the time and resources spent on data collection, validation, and reporting. FE Fundinfo's Fund Information Hub offers a centralised platform that automates these processes, ensuring accuracy and consistency across all regulatory frameworks.
Adopt a "Collect Once, Distribute Everywhere" Approach
With regulatory requirements constantly evolving (nearly 600 new data points were created in 2022 alone!), efficiency in data collection and distribution is critical. That’s why our Regulatory Data Templates solution embodies a "Collect Once, Distribute Everywhere" methodology that allows managers to input data once and use it for multiple regulatory reports across the UK, EEA, and APAC. We’ve found that this approach not only saves time, it also ensures consistency across the entire reporting landscape.
Leverage Expert Regulatory Knowledge
We know that staying abreast of regulatory changes is a full-time job. Instead of allocating internal resources to this task, consider partnering with regulatory experts. FE Fundinfo's team of regulatory specialists continuously monitor for changes, and we update our services accordingly to ensure your compliance efforts are always up-to-date without the need for constant internal vigilance. Meanwhile, our team of data experts watches for data inconsistencies and alerts you when records are incomplete or inaccurate.
Implement Transparent Monitoring and Control
Transparency in your compliance processes helps identify inefficiencies. Finding inefficiencies is the first step in reducing costs, and cutting expenditures is how profit margins grow. We built the Fund Information Hub for asset managers who want a comprehensive dashboard to monitor template production in real-time.
Invest in Scalable Solutions
To create the conditions for growth in this competitive market, consider a compliance solution that works as efficiently as you do. Investing in automation tools that help you scale more funds into more markets accelerates market access and sets the course for growth. Our Regulatory Data Templates solution is designed to grow with your business, easily onboarding new clients and expanding to serve any new products you might launch.
For more ideas about leveraging technology to optimise costs, download our comprehensive guide: "The Efficiency Equation: Balancing Compliance, Cost and Technology in Modern Asset Management."
