Tom Secaur recently discussed the shift towards integrated technology and operations with Ignites. One driver of this development is legacy tech still deployed by many firms.
"A lot of firms are waking up to the fact that they need to do something." Tom commented. "But the landscape is a lot different than when they first made the choice to buy a system or outsource."
The article continues to cite Citisoft's recent Outlook 2020.
Tom added that a more holistic operating environment is not a zero-sum game. "We’ve been getting into these spirited discussions of, ‘Oh, that’s front office,’ or, ‘No, that’s middle office.’ Those discussions are kind of pointless. Why put systems or solutions or people into a box? The industry could stand to simplify their operating model and rationalize their vendors, from 10 to two or three, not necessarily to one."
For more of Tom's thoughts on best of breed solutions and the blurring lines between front, middle, and back office in the asset management industry, read the full article here.