Nomura Research Institute (NRI), a provider of consulting services and system solutions, has launched a new ‘Look-through Highway’ for asset managers and banks.
The service aims to reduce the operational burden related to Basel III compliance for financial institutions, and over 13 asset managers, as well as 10 banks in Japan, are sue to begin using it on 1 April 2018.
As banks looking for larger revenue sources have been increasing investment of capital into funds, enhanced risk management becomes more necessary. As a result, banks have demanded asset managers provide a variety of data and reports related to the funds. This demand has resulted in a significant burden of administrative work for both asset managers and banks, as there is no standardised format or process for this exchange of data and reports between the two parties.
Using Look-through Highway, asset managers can standardise data and reports that previously had to be prepared individually for each bank. In addition, banks can now better receive standardised data and reports, which makes it easy for them to analyse across funds and format and input data.
As part of the service, NRI now calculates and provides banks with risk sensitivity ratings based on account balance data. As a result, banks can see the full risk landscape of the funds they own, which is a requirement for regulatory reporting.
“NRI is always monitoring the capital markets ecosystem looking for areas of inefficiency that we can use our deep expertise to address on behalf of our customers and partners,” says Katsuhiko Fujita, Senior Managing Director of NRI. “As banks and asset managers continue to demand more of each other, we see this as a prime opportunity to use our strong suite of solutions to address the operational and compliance that are dragging down these new processes.”
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