Alliance Trust Savings takes step towards automated re-reg

Alliance Trust Savings has made moves to improve its re-registration capabilities by sealing a deal with technology provider Altus to automate this process.

The platform has also signed up to Tex, an agreement of re-registration standards put together by the Tax-Incentivised Savings Association.

A statement from the platform said the deal with Altus would result in “an improved, more efficient re-registration service”. It claimed to have experienced a 40 per cent rise in requests to transfer assets onto Alliance Trust Savings in the first three months of 2013, compared with the first quarter of 2012.

Article continues after advert

Elaine Maddison, proposition and service director at Alliance Trust Savings, said the Altus deal would allow re-registration to be completed “within 5-6 working days”.