Asset managers need to be 'ahead of the curve' amid transformational digital environment

Legacy technology remains primary obstacle

Tom Eckett
clock • 2 min read

Despite spending on average £15m a year on digital technology, almost a quarter of asset managers feel their digital maturity is "fragmented" and they are beginning to lag behind other organisations, according to a survey conducted by asset and wealth management consultancy firm Alpha FMC.

The research, which surveyed people from 15 of the largest asset management firms collectively managing over £7trn assets, found asset managers still face a number of significant challenges to implementing their digital programmes. Some 69% of respondents said legacy technology remained the primary obstacle to change while 62% pointed to the need for a widespread change in company culture and mindset. Enter the vortex: How asset managers can transcend digital disruption Furthermore, just under half of asset managers said it was a lack of resources or relevant skillsets which was th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Technology

M&G expands thematic offering with global equity AI fund launch

M&G expands thematic offering with global equity AI fund launch

£20m initial investment

Cristian Angeloni
clock 22 January 2024 • 2 min read
CCLA's Helen Luong: How AI might affect your stock picks

CCLA's Helen Luong: How AI might affect your stock picks

Business model disruption

Helen Luong
clock 19 January 2024 • 4 min read
Allfunds launches analysis tool with wealth platform Ardan

Allfunds launches analysis tool with wealth platform Ardan

190,000 funds

Elliot Gulliver-Needham
clock 18 December 2023 • 1 min read
Trustpilot