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.
Every 10 to 15 years we see seismic shifts in the FinTech operating platforms, underlying technological components, and skill sets required to ensure operational effectiveness and business continuity.
State Street Alpha kicked off their Voice of the Consultant series by interviewing Jeremy Hurwitz, a Managing Director at Elgin White.
As technology evolves, investment managers must stay ahead of the curve to remain competitive. Last month I wrote about the 10 most profitable outcomes of cloud adoption for investment managers. In this second of four articles, I highlight the challenges that cloud computing presents.
No platform is an island in the complex, multi-vendor world of investment management. All buy-side platforms must interact effectively and continuously to mitigate the risk of business-critical interruptions, keep the lights on, optimize client experience, and maintain competitive advantage.
Understanding the “Why?” of your cloud adoption or migration project is essential. By building a complete and compelling business case, which is outcome-oriented, you are more likely to secure budget approval and internal buy-in.