Pension scheme administrator Watson Wyatt shaved two days off the time taken to process its investment transactions with fund managers and substantially reduced the risks from manual intervention by moving its processing to a Swift Service Bureau.
In looking for an end-to-end automated solution, Watson Wyatt determined that the processing of messages using an industry standard would maximise straight through processing of trades and confirmations.
Working with a selected team of investment managers and administration suppliers a project was established and by April 2007, using the Barclays Swift Service, via the fully accredited Bureau managed by SMA Financial “live” processing was successfully rolled out.
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