KAS BANK, the specialist provider of securities services to the UK pension industry, is deploying the latest blockchain technology to transform how shareholders vote. Voteroom, a new app developed by the company’s in-house innovation lab, looks to streamline the complex voting process making it more secure, transparent and efficient than ever before.
In an era when insurers, pension schemes and institutional investors increasingly need to demonstrate accountability for their investment policy decisions, Voteroom promises to expedite collation of ballots and significantly improve reporting transparency. The programme was be put to the test for the first time at KAS BANK’s own General Shareholders Meeting on April 25th, 2018, where it tackled shareholder anonymity and complex proxy voting issues. The next step is for the app to be available to listed companies for purchase and free for shareholders to use.
KAS BANK’s tool which is built using the Ethereum framework is a further example of the Group’s commitment to using the latest technology to drive efficiencies and raise industry standards. KAS BANK sees many opportunities to deploy this technology across the pensions industry and beyond.
Pat Sharman, UK Managing Director commented: “Policymakers and trustees are increasingly looking to improve governance standards of pension schemes and we want to assist with this challenge across the investment process.
Upholding shareholder’s democratic voting rights, we identified the gap for improved efficiency and transparency when communicating shareholders’ decisions on investment policies. This initiative demonstrates our commitment to innovation and improving governance standards via the use of technology. It is encouraging to see progression of further positive pioneering data services being developed by our forward-thinking KAS LAB, not only bringing institutional schemes into the technological age but ultimately making the lives of shareholders’ far easier.”
About KAS BANK N.V.
KAS BANK is a leading European provider of custodian and fund administration services to institutional investors and financial institutions. We view the market from the perspective of our clients – tailor-made services and complete transparency are paramount in helping them to meet their business objectives.
Their core focus is on keeping assets safe and secure. KAS BANK operates as a “pure player”, maintaining integrity through our neutral approach. Remaining independent, they work directly for institutional clients, avoiding conflicts of interest. KAS BANK provide added-value services to national and international organisations active in the pensions and securities industries. This means clients can concentrate on performing “Best in Class”. KAS BANK has branches in Amsterdam, London and Frankfurt am Main and is listed at Euronext Amsterdam.