More than eight in ten asset management professionals expect fundamental change in their operating models caused by at least one factor over the next 24 months, a survey from a financial technology firm has found.
Confluence’s 2017 Asset Management Trend Survey of asset management professionals found that regulatory change and technology innovation are the top driving factors in this transformation.
There was a 13-point increase in those citing management of increased regulatory reporting requirements as important goals for back-office operations over the next year compared with the previous year.
Asset management professionals also continued to register their concern about continued reliance on manual processes. As in the previous four Confluence surveys “replacing manual processes with automated technology” was named the top back office goal.
Todd Moyer, chief operating officer at Confluence, said: “While the concerns of the asset management industry in 2017 are largely consistent with what we found in 2016, the rise in urgency on display is what really explains the transformation we have seen taking place this year.”
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