Standard Life has gone live with financial services consultancy firm Altus for automatic re-registration.
The proportion of the platform market carrying out fund re-registrations automatically is expected to reach 80% by the end of the summer.
Alliance Trust Savings has partnered with financial services consultancy Altus to provide automatic re-registration of assets.
Total platform industry costs stood £50m higher than revenues in 2011 despite assets under administration of nearly £250bn, according to Altus.
Platforms may be forced to abandon plans for ‘super-clean' share classes as the number of firms demanding the special terms continues to rise, according to a consultant.
Fidelity FundsNetwork and Skandia have completed the first electronic in-specie transfer of assets between two rival platforms - a key requirement of Retail Distribution Review (RDR).
The platform industry will struggle to ever break even as a whole, according to research into firms' financial stability.