VIDEO | Technology has catalysed significant changes in global wealth management in recent years and it continues to drive trends and developments. At PostTrade 360° Copenhagen, a panel of experts sat down to discuss how evolving client expectations are influencing decisions in asset servicing, harmonisation, and the safekeeping of assets.

The session was sponsored by SS&C.

When it comes to innovation, it’s not unusual to hear that technology is a solution looking for a problem. Wade McDonald, Senior Director at SS&C Technologies cautioned against that during the session, and pointed out that the focus should always be on the outcome. “It’s the marketplace and the outcomes that are driving the need for solutions and those solutions have to be based on new innovation of technology,” he says. “So it’s not technology looking for home – it’s ‘we’ve got to achieve certain things to succeed and therefore we want partners who can deliver services and technology that gets us to those outcomes’.”


What clients want

Nadine Readie, Director and Global Product Head of Execution to Custody at Citi acknowledged that the retail and wealth management sectors have a different acceptance and tolerance level of technology compared to clients in the institutional space. “We know the institutional space can be a little slower. The retail and wealth clients, quite frankly, want it yesterday,” she says.

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In these sectors, “clients are driving the agenda. They’re driving that instant gratification; they want to know where things are, they want to have that immediacy, and they want to be able to access it in whatever format they want. Clients are driving technology – and it’s more prevalent in the retail and wealth space”.

The strong focus on clients may be warranted, but Wade McDonald believes that the quality of solutions cannot be neglected, either. “When you think about tech, you think about user experience,” he says. Strong application programming interfaces (APIs) and user integration are equally important.

The panellists were:
Wade McDonald,Senior Director, SS&C Technologies, and
Nadine Readie, Director, Global Product Head of Execution to Custody, Citi, moderated by
Bastiaan Aalders, Head of AWM Netherlands, Asset & Wealth Management Consulting, Alpha Financial Markets Consulting.

• Our news posts around PostTrade 360° Copenhagen 2023, on 11–12 October, are gathered here
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