Confluence predicts ‘coming of age’ for fund administrators
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Confluence predicts ‘coming of age’ for fund administrators 14 January 2013New York Reporter: Georgina Lavers
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A rise in cloud computing and financial services technology has led to greater customisation and delivery speed, says Confluence.
The data management solutions firm has predicted that, in 2013, global demands for instant access to customised data in an evolving asset management industry will further drive fund administrators’ growing need for cloud technologies and automated processes: a “coming-of-age” period for fund administrators.
Confluence identified three trends in the space: a closing technology gap on expense processing for greater efficiency; and an explosion in financial data presenting a huge challenge for the industry; and cloud technology pushing fund administrators into the future.
“This year marks a pivotal time for the adoption of technology in the fund administration back office,” said Skip Smith, executive vice president of product development for Confluence. “Fund administration technology is coming of age and will provide forward-looking fund administrators with a strategic competitive edge.”
“In past years, we’ve seen fund administration technology grow and change due to economic issues and regulatory needs. While these remain concerns for fund administrators, it’s clear that this year is really about how fund administrators can use technology to better prepare manage their data and prepare for the future.”
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