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Laxman Pai, Opalesque Asia: The asset managers with the most advanced technology operating models continue to outperform their peers in terms of revenue growth, driven by accelerated adoption of cloud, artificial intelligence (AI) and other emerging technologies.
Fund managers implementing technological advances reported an average 3.3% annual growth rate over the past 12 months in revenue, compared with 1.1% for other fund managers, according to the survey, released Thursday by FIS, a technology and outsourcing firm.
49% of the executives surveyed - nearly double the number from the 2017 report - said they were confident they have the right technology in place to support their growth ambitions, a number that climbs to 71% for operational leaders. Even more, operational leaders continue to outpace the rest of the industry in their adoption of the cloud, artificial intelligence and other emerging technologies.
The third-annual FIS Readiness Report surveyed more than 2,000 senior executives from retail banks and buy-side, sell-side and insurance firms.
"Our 2019 research indicates that the industry's growing confidence in its underlying technology to drive growth may be misplaced as operational leaders continue to sharpen their competitive edge over the rest of the pack," said Martin Boyd, head of Capital Markets at FIS.
"Particularly striking is the way these operational leaders are pivoting their innovation strategies away from operating efficiencies...................... To view our full article Click here
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