In this excerpt from State Street Alpha’s Voice of the Consultant series Jeremy Hurwitz shares his views on the legacy data management challenges asset and wealth management firms face today.
The global financial services industry has undergone substantial transformation, driven by the advent and adoption of cutting-edge technology. Among these technologies, cloud computing has emerged as a key enabler, providing financial institutions such as asset managers, asset owners, banks, and private wealth firms with many benefits. These include cost savings, scalability, enhanced security, agility, and innovation.
Implementing a major new front office solution may have left you and your colleagues fatigued – and relieved it is over. Change is hard. “Experience is something you don’t get until just after you needed it,” said American entertainer Steve Wright – a sentiment shared by many who have recently completed a front office implementation project.