FE, a financial data and research company, has introduced a new data management service for asset managers, called Precision +.
The company claims that its new service will enable asset managers to take control of their data and unlock the value stored within it, while mitigating risk linked with data errors.
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The service will validate the data and report any inconsistencies back to the manager, before disseminating it to vendors and platforms on their behalf to ensure total consistency across the market.
The company added that Precision + will help managers keep themselves aligned with new regulation (FCA SYSC 4.1.1), which requires them to put in place effective information processing systems. It will also de-risk from data errors which can then lead to problems with the regulator.
The service, which charges per file type rather than per share class, turns data from an admin burden into a valuable asset in which to communicate with their customers.
FE data director Sam Walker said: "Accurate and timely data also helps bring greater clarity to this industry – and therefore the importance of clean funds data just cannot be stressed enough, especially in light of the current regulatory landscape.
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