Increasing cost pressures, fees and the rise of passive funds are three factors which will accelerate the pace of digital innovation among asset managers, according to a report by CREATE-Research.
The report entitled Digitisation of asset and wealth management: promise and pitfalls said the industries were in the middle of a transformation "unlike any that we have seen before". The firm polled 458 asset and wealth managers across the world on new digital platforms; robotics; cognitive technology; application programming interfaces; robo advisers; blockchain; big data and social media. The biggest accelerator of digitisation that respondents expected to see over the next decade was growing cost pressures (74%), while 54% said fees becoming a major differentiator and 48% said the...
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