Alliance Trust Savings has partnered with financial services consultancy Altus to provide automatic re-registration of assets.
Alliance Trust Savings has also signed up to industry body Tax Incentivised Savings Association's (TISA) TEX agreement which helps facilitate the re-registration of assets to agreed standards between participating members.
The Retail Distribution Review (RDR) mandated that all platforms, providers and fund managers should allow for re-registration of customers' assets.
Alliance Trust Savings proposition and service director Elaine Maddison said: "We are delighted to be partnering with Altus to automate our existing fund re-registration process. Altus' understanding of our business and their desire to help us improve our service proposition for our customers was the decisive factor.
"Alliance Trust Savings has always allowed in-specie transfers, however this solution will enable us to now facilitate this within five to six working days which will benefit providers, financial advisers and crucially our clients."
Altus products director Ben Cocks said: "It is really important to see such a key player in the investment industry as Alliance Trust Savings embrace open standards-based transfers and re-registrations.
"It is further evidence of the momentum behind automated transfers processing which is good news for the industry and will ultimately deliver better outcomes for consumers. We look forward to working with the Alliance Trust Savings team to turn the promise of speedy transfers and re-registrations into a reality."
Axa Elevate recently confirmed it had selected platform software provider FNZ and fund transaction network Calastone to provide automatic re-registration capabilities later this month.
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