Wealth Management Series – To Accelerate Your Business You Need To Automate

In a recent report, it is concluded that wealth management 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.

Regardless of the product mix, operating models should flex and be fit-for-purpose. Globally consistent operating models that promote automation and scale are a must-have. Intelligent investment operations can create a best-of-breed innovation technology engine and deliver value-generating, customer-centric processes.

A recent report on “Accelerating Digital and Transforming Through Technology” Automation and artificial intelligence will proliferate, as wealth managers look for tools and technologies to enhance digital channels and improve the investor experience – such as collaboration tools to better connect employees to clients, each other and the enterprise. 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 pros of Intelligent automation far outweigh the cons. The evidence and thought leadership point to the business imperative for wealth managers to use technology and data infrastructure to achieve scale, automation and cost reduction. Our ethos at psKINETIC is to work with wealth managers existing technology infrastructure and use a process that we call “intelligent glue” to connect different systems and data to deliver intelligent automation solutions within 90-days. Our principle is to accelerate business value across the value chain from the front, middle and back-office to design and integrate bespoke solutions where they are needed.

For further details contact
Nick Foggin – Head of Private Banking and Wealth Management


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