The wealth management industry is a complex business with data being passed between a plethora of parties including investors, dealer groups, financial advisors, fund managers, trustees, custodians, banks and insurance companies. The end-to-end process remains paper intensive and prone to double handling, delays, errors and rework when the industry world wide faces increased compliance and regulation.

To address these issues, Conductor incorporates straight through processing capabilities and a full business rules engine to provide online validation of incoming and outgoing transaction formats and data. For example, for an application for a retail unit trust, Conductor's rules engine would validate investor and account data along with various product rules such as liquidity levels and minimum application amounts before passing the transaction to the administration system.

The importance of the rules capability cannot be over emphasised, because:

• "Clean" transactions are processed without human intervention
• Transactions that fail validation tests are flagged for follow up and/or specialist remedial attention
• It allows messages from multiple sources to be validated