psKINETIC

Wealth Management Series – A Need For Automation

In a recent report which looked at accelerating digital and transforming through technology, it was concluded that mid-office and back-office processes – regulatory, trading execution, treasury, finance, risk and compliance, for example – will be reimagined and redesigned in order to enable the future business and operating models. The insight goes further and looks at the adoption of intelligent automation and emerging technologies required to accelerate the implementation of automation at scale in-part through the re-evaluation of process workflows and the use of innovative technologies.

A Chief Operating Officer will therefore be looking at simplifying the end-to-end operating model and digitalisation to meet their immediate needs, as well as laying the foundations for the future, with the increasingly diverse asset class and global coverage requirements. Speed of concept to cash is critical for survival – building flexibility and agility into the operating model and change function is key.

In a recent report which looked at accelerating digital and transforming through technology, it was concluded that mid-office and back-office processes – regulatory, trading execution, treasury, finance, risk and compliance, for example – will be reimagined and redesigned in order to enable the future business and operating models. The insight goes further and looks at the adoption of intelligent automation and emerging technologies required to accelerate the implementation of automation at scale in-part through the re-evaluation of process workflows and the use of innovative technologies.

A Chief Operating Officer will therefore be looking at simplifying the end-to-end operating model and digitalisation to meet their immediate needs, as well as laying the foundations for the future, with the increasingly diverse asset class and global coverage requirements. Speed of concept to cash is critical for survival – building flexibility and agility into the operating model and change function is key.

Effective investment services models are: 

  1. Cross-functional, breaking down operational silos that exist today.
  2. Organized around delivering value to internal/external customers and building relationships with firm and market partners.
  3. Enabled by automation, data, digital technologies and analytics

Firms should continue to focus on building scale with an eye on outsourcing and implementing new technology. Cost reduction 
initiatives should include a clear reinvestment strategy, leading firms to increase their investments in automation and intelligent operations

If you look at all the research that is available in the public domain operational efficiency is delivered through automation. At psKINETIC we 
combine deep domain expertise to integrate Intelligent Automation Solutions for Wealth Managers across the front, middle and back-office. 

For further details contact
Nick Foggin – Head of Private Banking and Wealth Management
E: Nick.foggin@pskinetic.com
www.linkedin.com/in/nickfoggin/

Insights

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