Corporate issuers are embracing new technologies as never before and view them as the key to providing better service to their shareholders, according to a survey by AST.
AST, a New York-based tech-enabled services provider, examined corporate issuers’ needs, wants and concerns with regard to the use of technology in their work.
The survey respondents named shareholder experience as the number-one area of their business that would benefit from improved use of technology (31 percent), followed by documentation availability, website improvements and security (each at 19 percent).
Respondents said they wanted tech-enabled customer service that can offer seamless connections that enable them to more accurately understand and communicate with their shareholders.
Across the board, respondents agreed that developing technology solutions is critical to enhancing the speed of accessing information and the ease of providing information to shareholders.
Internally, respondents wanted smoother information flow between systems and people for greater self-service and information access. Issuers also said they want technology to help them stay abreast of regulatory changes.
The vast majority of respondents shared their belief that technology is a complex discipline that often requires a different skill set from that which they personally possess. Important to executives was the need to understand technology in layman’s terms.
AST said this conviction stems from their shared experience of needing to answer technological questions regularly and sometimes under pressure, even when the technologies in question will be many years in development.
Respondents also said they believe that technology is an investment that providers should make to show their commitment to the executives’ businesses.
The study showed that executives desire to be kept more up-to-date with new developments in regard to data and analytics. Most stated that sharing data is imperative, but said they want providers to work out the details and regulations of data sharing first.
Marty Flanigan, CEO of AST, said: “The insights we’ve gained from this study further inform our understanding of what corporate issuers desire to serve and communicate with their shareholders, helping us to innovate in a way that best meets their needs.”
