Risk Technology Challenges for Asset Managers

This is a transcript of an a recent interview with Anthony Pereira, CEO of Percentile.

[Q] What are the major technology challenges that asset managers are facing at the moment?

They’re very similar to what has been faced by other industry sectors, in that there is a lack of cohesive technology within firms, and not enough investment in connected technology. There has been a focus on a best-of-breed approach to solving front-office trading and asset management functions, but there’s nothing connecting that to the second line of defence, so we end up with what I call operational spaghetti. There are a lot of manual workarounds, and if one thing doesn’t work properly, we see a domino effect.

The volume of regulations have increased, and the requirements have changed so much that this approach is just not suitable any more. Asset managers require data, processing and automation just to get the basic information out to the regulators consistently. Firms are finally realising that technology is the solution to this problem.

We do have a regulatory burden, but it’s a burden because we have made it one through lack of investment.

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