By Wouter Wytenburg, Commercial Director

Link to Wouter’s LinkedIn page.

2021 was a revelation. Last year we met with hundreds of professionals across the entire fund ecosystem, both virtually and in face-to-face conferences in London and Luxembourg, and what they had to say about the future of digitization within the fund industry was illuminating to say the least.

Many of these world-class fund managers and fund administrators became our clients in 2021, and in this article, I will share insights I gained from them and others throughout the year. The industry insights into the current state and the exciting future developments are categorized into six key factors we believe will drive demand for automation across the fund management industry over the coming years:

  1. Service Provider Selection Criteria: key criteria fund managers use to choose a fund service provider
  2. Shortage of talent: how our technology addresses the global shortage of talent
  3. Regulatory and environmental pressure: driving a clear need for more unification
  4. Consolidation gaps: mergers are often a revenue-play and efficiencies are ignored
  5. Investors expect more: investors demand a smoother digital onboarding experience
  6. IT innovation is not your core business. It is ours.

1. Service Provider Selection Criteria

The global asset management industry is primarily built on trust, which is gained through delivering quality work and consistent results over a relationship that often lasts many years. Asset managers, therefore, tend to tread carefully and diligently when selecting a new service provider. Here are the key criteria that asset managers apply when making decisions on a service provider: