Asset Management business has traditionally been considered less profitable compared to both Banking and Insurance industries. However it is now in the midst of transformation with asset management firms looking to launch innovative products catering to various investor segments. These firms need to develop strategies to deal with evolving and ever-growing expectations of stakeholders and the emergence of disruptive technologies which have a potential to alter the competitive landscape.
Firms in the Asset Management space are adopting jurisdiction specific strategies and launching hybrid products specific to investor segments, in their attempt to tackle a challenging investment environment. As investors gain more industry awareness and knowledge, they will focus more on cross-border investments, transparent & flexible charging structures and enhancing customer service levels, in their attempt to improve the profitability of their business operations. Traditionally services like Safe-Keeping, Clearing & Settlement and Corporate Actions Processing were offered by firms in the asset management space, but with changing investor demands they need to offer Portfolio Management services like on-demand performance reporting and tax management.
Market participants also have a need to integrate digital technology into their offerings, which will enable them to better understand their target markets, segment these target markets by distribution channels / investor types and develop service propositions in alignment with the specific needs of each segment. They must also adopt new technologies/tools which can provide timely access to information in suitable formats (e.g. dashboard based visualizations via mobile devices and tablets, which have emerged as de facto channels for investor interaction).
Keeping this context in mind, Market participants can only increase their share of investors wallet by adopting a super-efficient, scalable, integrated technology platform which can handle multiple asset classes, a variety of customizable products, global clients across segments and locations and regulators across jurisdictions. It should significantly improve operational efficiency by automating asset management/securities services functions across front-mid-back offices and seamlessly access both local and international markets using appropriate data exchange formats and built-in local language support.
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