UK - Aqera launches this week, offering a new business and IT infrastructure to UK financial product providers in the highly regulated 1% world.
The company aims to help providers overcome cost challenges and achieve profitability and has already appointed Ed Holt as managing director.
Aqera will deliver to product providers the lowest possible cost base for administration and back office processing, e-distribution and compliance monitoring. The company has been established by HISL, an independent UK software house.
Ed Holt, managing director, has 20 years' experience in the software industry. His previous roles have included UK managing director of Management Science America, the world's largest provider of packaged business software.
Holt said: It's common knowledge that providers are already feeling the pinch of the 1% world and that many business models will not deliver profitability for 10 years. Today the industry is struggling to be profitable through making large-scale redundancies, and through mergers and acquisitions. Aqera delivers a new business model with a shared online service, an alternative in-house package option and a very compelling economic proposition.
Our research shows that Aqera will deliver savings of more than 50% of the current administration cost of a typical product provider. Charging will be a percentage of providers' revenue; and will be as low as 0.15% (15 basis-points) of funds under management. Aqera will provide all the administration personnel and IT systems, so delivering very high levels of service at much reduced cost.
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