Kneip joins TISA’s Universal Reporting Network to boost regulatory reporting for clients
By Megha Bhattacharya
Fund data management solution provider, Kneip has joined TISA’s Universal Reporting Network (TURN). TURN aims to reduce data and analytics costs for asset managers by around 80-90% per annum from year one and the utility, powered by Atos, aims to ease regulatory reporting requirements of MiFID II. The new blockchain solution is expected to be launched across Europe this quarter.
Lauri Paal, Chief Product Officer at Kneip, said, “We are delighted to be a founding partner of TISA’s Universal Reporting Network – TURN. At Kneip we are absolutely determined to solve our clients’ problems so recognise how valuable it is for the industry to come together and help make it easier for asset managers to comply with the ever-changing regulatory world and to make fund distribution more effective.
“This collaborative blockchain solution is a great step in the right direction. It will make reporting and exchange of data simpler and more efficient, as well as encourage asset managers to share and have access to EMT data.”
Kneip has joined TISA’s Universal Network as the solution will ease regulatory reporting requirements of MiFID for asset management. Through Kneip’s involvement, all Kneip’s clients will have access to the EMTs (European MiFID II Template) on a real-time basis.
Gary Bond, CEO of TURN, said, “We are thrilled that Kneip has joined the TISA Universal Reporting Network as another notable founding member, to help build and test this industry-led and run utility. The impact will be substantial, for all types of firms working in this space, including the UK, the EU and Switzerland. The utility is clearly a sought-after ambition as we have been working with our members, including European asset managers, distributors, platforms, and IT firms to identify and address their needs through TURN.”
Recently, The Investing and Savings Alliance (TISA) announced the initiation of its industry-wide rollout of TISAtech. The digital marketplace aims to bring together financial institutions and FinTechs for facilitating collaboration and innovation across the Open Finance spectrum. TISAtech is expected to provide a ‘clearing house’ for the financial services industry, help it address tech-driven transformation and the integration of new financial technologies to enhance products and services while reducing operational friction and lowering costs for consumers.
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October 18, 2021
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October 18, 2021