Altus

Altus launches instruction gateway

11th Jul '08

Information Logistics specialist Altus is launching a new STP (Straight Through Processing) tool for pensions scheme administrators, designed to automate the interaction with fund managers. Altus Instruction Gateway uses the new Vianova/ISO20022 standard for data transport between scheme administrator and fund manager but also supports all the other steps in the investment instruction process. 

According to Altus products manager Ben Cocks, “Simply replacing the fax with a message will lead to very little improvement on its own - in fact it will often make things worse as the fax has become integral to the process. Only by automating the end-to-end cycle - capture, validation, approval, confirmation and reconciliation - will an administrator benefit from STP.”

Pensions scheme administrators are increasingly being requested to offer ‘Instruction STP’. Some of them already see this as a route to streamline and ultimately offer higher quality, more rapid service to their clients, more cost effectively. The Altus launch follows agreement on an XML-based electronic messaging standard for Financial Services in ISO20022 and on market practise use of this for investment instructions in ViaNova, both of which Altus Instruction Gateway supports.

Instruction management is the latest step in the Altus product roadmap following their successful e-filing launch. Altus e-filing Gateway currently accounts for 75% of straight-through scheme reporting to HMRC and has helped Altus establish an impressive client list which it hopes to build on with this latest product.

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