CACEIS partners with Doculayer.ai

CACEIS, a governance partner for UK Pension Schemes, has partnered with Doculayer.ai's intelligent content platform, to further strengthen its cost transparency and benchmarking service.

CACEIS, which launched the UK’s first Cost Transparency Dashboard for pension funds back in 2017, will use Doculayer.ai’s intelligent content platform to improve data governance in collecting and processing data consistently, across its pension scheme clients and underlying investment managers.

Scott Foster, product specialist, CACEIS, says: “Since we launched our cost transparency service, our team’s focus has been on gathering clean, and accurate data, so that our cost reports can be reviewed in confidence. Our ultimate goal is to help pension schemes better understand their total costs, and the context around them, so that they can better assess value. In our ambitions to scale up our service, we have sought to add efficiency to the volumes of data we process, whilst maintaining our high data quality standards. Doculayer will help us achieve that. 

“The industry has made great strides to improve and standardise the data being delivered to pension funds, with initiatives such as the introduction of CTI templates being a big contributor to progress. However, as the industry continues to make efforts in adopting these templates, we are finding teething issues in that a vast majority (80 per cent) of data that comes through to us isn’t first time right. This illustrates the ongoing need for deeper analysis and vetting of the data being received.

“With the help of Doculayer.ai’s cutting edge intelligent content platform and machine learning technology, our on the ground analyst team can more effectively review and rectify any inaccuracies with the data, in a way that remains consistent with the CTI templates. Greater cost transparency and total cost governance and benchmarking places accurate data into the hands of the asset owners and trustees to make better informed decisions. This in practice translates into more direct and meaningful conversations with their asset managers and various service providers on the overall value that is being delivered.”

Wim van Dam, co-founder of Doculayer.ai, says: “The automatic processing of large amounts of complex data is one of the core qualities of our content platform. We are proud that with this solution we can support CACEIS in providing more transparent information about the investments they administer for their clients.”