Investment in technology and data infrastructure sit at the top of asset managers’ priorities as they position themselves to deliver business growth in the recovery from the Covid-19 pandemic, according to a Temenos survey.
Fifty six per cent say their investment will focus on these areas over the next 12 months and for almost half (47 per cent) on ensuring ESG compliance across their product range, according to a new report by Funds Europe – The Future of Investment Operations – for Temenos, the banking software company.
The survey of global investment professionals across the asset management sector also reveals Covid-19 has pushed firms to review their IT strategies and transition to the public/hybrid cloud. 62 per cent of respondents say cloud-native solutions will play a key role in their IT strategy, followed by the importance of Software-as-a-Service (SaaS) solutions (48 per cent) and the use of open API (application program interface) technology (46 per cent).
To improve levels of operational efficiency, firms are seeking seamless interconnection between functions along the investment value chain. In the survey, 83 per cent of asset managers say they will extend their strategic alliances with asset servicing and tech partners, enabling connection of middle- and back-office services straight to their front office tools and investment book of record (IBOR).
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