The Retail Distribution Review is shaking up the distribution of retail investments products in the UK. As providers of software and services to the industry, Microsoft and CGI needed greater insight into the impact of RDR on their clients’ systems.
Microsoft and CGI jointly commissioned OCP to engage with life and pensions insurers, retail banks, asset managers, fund supermarkets and platforms to assess what RDR means for their information technology requirements.
Our report highlighted the constraints of legacy, previous mergers and outsource arrangements. It also revealed providers’ limited capacity for change in comparison to the many competing priorities.
Microsoft and CGI identified several emerging themes, including the need for financial institutions to improve customer accessibility and to use Customer Relationship Management information more effectively to customise services.
As far as we aware, this is the only investigation into the impact of RDR on provider systems that has been published to date.