London
10 October 2017
Reporter: Theo Andrew

KAS Bank seeking to innovate UK pensions market


KAS Bank has plans to create a fintech innovation division aimed at “radically transforming” the governance technologies available to UK pension schemes.

The plans are revealed two months after KAS Bank launched its cost transparency dashboard for defined-benefit pension schemes, intended to address the rising costs of regulatory scrutiny.

The new division will oversee the development and refinement of the cost transparency tool, as well as implementing new tools to provide data driven insight aimed at “driving real change”.

According to KAS Bank, fintech will address issues in the pension market such as mounting fund deficits and new regulatory codes and standards, by taking “innovation to the next level”.

The bank estimates that UK occupational pension schemes currently look over £2.2 trillion of pension savings for 39.2 million people across the UK.

The dashboard is also intended to support better decision-making across the entire value chain, to identify the potential for improving cost efficiency, and to allow for easier demonstration of effective governance.

KAS Bank will develop a team from inside and outside the pensions sector and will look to challenge existing practices and decision making.

Pat Sharman, managing director at KAS Bank, said: “Policymakers and regulators are becoming increasingly focused on improving governance of pension schemes, and as someone who’s worked with pensions schemes for much of my life (including my trustee roles), I understand the drive for better governance.”

Sharman added: “There is a demand for accurate, transparent and timely information, which will assist trustees with more informed decision making, and the launch of our cost transparency tool this year was the beginning of that vision.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
FS-ISAC enables safer financial data sharing with API
20 February 2018 | Virginia | Reporter: Jenna Lomax
The introduction of the new API supports enhancements to secure financial data transfer including improvements in speed and error reduction
Around half in the industry have seen no real effect of Brexit, according to Augentius’ annual global survey
SETL welcomes new shareholders and new board member
20 February 2018 | London | Reporter: Jenna Lomax
SETL was launched in July 2015 to deploy a payment and settlements infrastructure based on blockchain technology
Euroclear reports strong 2017 operating performance
19 February 2018 | Brussels | Reporter: Jenna Lomax
Euroclear’s fund assets under custody grew 13 percent as Euroclear continued to utilise its international exchange traded funds model
Minium, IBM and Promontory release joint white paper
19 February 2018 | London | Reporter: Jenna Lomax
The white paper says business should explore new geographies refocus on new businesses and invest in new technologies
Kane LPI appoints new head of LPI fund administration
19 February 2018 | Bermuda | Reporter: Jenna Lomax
Alain Fournier will be responsible for the management of the life, pension and investment division
Ricky Maloney rejoins Eurex
19 February 2018 | London | Reporter: Jenna Lomax
He previously worked at Eurex from 2013 to 2016 as head of OTC clearing sales and relationship management
More news