Business Wire

Asset Managers Look to Cloud and AI to Drive Covid-19 Recovery, Survey for Temenos Finds

Share

Investment in technology and data infrastructure sit at the top of asset managers’ priorities as they position themselves to deliver business growth in the recovery from the Covid-19 pandemic. 56% say their investment will focus on these areas over the next 12 months and for almost half (47%) on ensuring ESG compliance across their product range. These are the finding of a new report by Funds Europe - The Future of Investment Operations - for Temenos (SIX: TEMN), the banking software company.

The survey of global investment professionals across the asset management sector also reveals Covid-19 has pushed firms to review their IT strategies and transition to the public/hybrid cloud. 62% of respondents say cloud-native solutions will play a key role in their IT strategy, followed by the importance of Software-as-a-Service (SaaS) solutions (48%) and the use of open API (application program interface) technology (46%).

To improve levels of operational efficiency, firms are seeking seamless interconnection between functions along the investment value chain. In the survey, 83% of asset managers say they will extend their strategic alliances with asset servicing and tech partners, enabling connection of middle- and back-office services straight to their front office tools and investment book of record (IBOR).

AI and Machine Learning are set to play a growing role in delivering insights, both predictive and ex-post analytics, across the investment lifecycle. The top applications for AI are portfolio analytics and performance measurement (60%), data sourcing, cleansing and enrichment (57%), and improving the operational efficiency of middle- and back-office processes (56%).

However, augmenting human expertise into AI models will be a priority in applying AI models, according to 60% of respondents. This capability is essential to deliver business intelligence in a way that is explainable to product teams, customers and financial supervisors.

Barry Lee, Business Solutions Director, Temenos Multifonds, comments: “In mapping out the road to recovery, asset servicing firms and fund managers are increasingly looking to take advantage of the tools, analytics and scalability of the cloud. Temenos’ SaaS-based Explainable AI (XAI), for example, enables our fund administrator clients to use AI to reduce manual interventions, detect potential breakdowns in workflow, and speed up exception management related to price movements. This future-proofs their operations against black-swan events and increases overall efficiency and productivity.”

– Ends –

About Temenos

Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.

Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

For more information, please visit www.temenos.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email: press@temenos.com

Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

New Conviva Data Reveals How Consumers Discover Streaming Content – And the Implications for Publishers20.9.2021 18:55:00 CEST | Press release

Conviva, the intelligence cloud for streaming media, released its State of Streaming: Content Discovery report for 2021 today, revealing how consumers find new streaming content to watch. The report showed content streamed for the first time was discovered in four ways: word of mouth (59%), advertising (52%), social media (49%) and streaming service recommendations (43%). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210920005788/en/ Conviva's State of Streaming Content Discovery (Graphic: Business Wire) “Given the incredible amount of streaming content available today, connecting viewers with content that not only piques their interest, but also resonates enough to keep them coming back for more is a significant challenge for publishers looking to identify and engage new audiences,” said Keith Zubchevich, CEO, Conviva. “By leveraging advertising, recommendations and social media to curate and promote their offerings, publi

Tiedemann-koncernen och Alvarium Investments aviserar transaktion för att bilda Alvarium Tiedemann Holdings och listas på Nasdaq via företagsförvärv med Cartesian Growth Corporation20.9.2021 18:46:00 CEST | Pressmeddelande

Tiedemann-koncernen1 (”Tiedemann”), Alvarium Investments Limited2 (”Alvarium”) och Cartesian Growth Corporation3 (”Cartesian”) (NASDAQ: GLBL) meddelade idag gemensamt ikraftträdande av ett slutligt rörelseförvärvsavtal (”Rörelseförvärvsavtalet”). Den här föreslagna transaktionen kommer att skapa Alvarium Tiedemann Holdings, som förväntas vara ett ledande, oberoende globalt investeringsföretag som tillhandahåller institutioner, entreprenörer, familjer och nästa generations kommande ledare med förvaltnings- och investeringsstrategier och -tjänster. De konstituerande företagens expansiva internationella nätverk över fyra kontinenter, mångsidiga expertis och tillgång till privat och institutionellt kapital förväntas erbjuda en attraktiv portfölj av tjänster. Detta omfattande erbjudande kommer att understrykas av ett åtagande att påverka eller värdejustera investeringar och erbjuda betrodda rådgivningstjänster till familjeägda företag samt direkt- och saminvesteringsmöjligheter för realtill

Verimatrix To Debut New App Monitoring SaaS Service at Money 20/20 Europe20.9.2021 17:45:00 CEST | Press release

Regulatory News: Verimatrix, (Euronext Paris: VMX) (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced it’s scheduled to unveil a new mobile application monitoring service, an extension of its award-winning App Shield and Code Protection solutions, during this week’s Money 20/20 Europe in-person event. Taking place September 21-23 in booth D140 at RAI Amsterdam, Verimatrix’s launch of its security monitoring service for mobile applications can assist both new and existing customers in gaining the intelligence and protections needed for mission-critical apps. The new monitoring solution is available for both Verimatrix App Shield and Verimatrix Code Protection. App Shield is a no-code SaaS service that brings unprecedented cybersecurity protection to any Android or iOS app. Developers simply upload their app to the Verimatrix App Shield platform and receive a secured version that’s ready to publish to an app store, a critical las

Citi, IFC and Global Bank Partner to Finance Women’s Economic Empowerment in Panama20.9.2021 16:08:00 CEST | Press release

Citi, Global Bank and the International Finance Corporation (IFC) have partnered to provide more mortgages and Small Medium Enterprise (SME) business loans to women. The joint initiative offers a first-of-its-kind co-lending transaction of a $90 million loan ($20 million funded by Citi for three years and $70 million funded by IFC for five years) to Global Bank. The proceeds from this loan will be used for either Low Income Housing Mortgages–Hipoteca Preferencial–for women as heads of household or for women-owned and-or women-led enterprises. In addition, Global Bank will also partner with IFC Advisory Services to further enhance and develop gender-focused products and services in Panama. “It’s an honor to support groups and institutions that seek to broaden women empowerment across the region as well as to place women at the center of Panama’s recovery from the coronavirus pandemic,” said Marcelo Gorrini, Caribbean and Central America Cluster Head and Panama Citi Country Officer. “Thi

WilsonHCG Recognized as a “Leader” in Contingent Workforce Solutions and MSP by NelsonHall20.9.2021 16:00:00 CEST | Press release

WilsonHCG has been identified as a “Leader” in NelsonHall’s 2021 NEAT Vendor Evaluation and Assessment Tool for Managed Service Program (MSP) and Contingent Workforce Services (CWS) providers. “Being ranked as a Leader for our contingent workforce services is a testament to listening to our clients’ needs and differentiating by providing a high-touch experience that’s often overlooked in this space. The team is committed to exceptional service and it shows,” said John Wilson, CEO, WilsonHCG. “Organizations are looking for a variety of talent solutions in this challenging market and we’re proud to offer contingent workforce services that give them access to the talent they need to succeed.” Nikki Edwards, Principal Research Analyst with NelsonHall’s HR Technology & Services practice, added, “WilsonHCG applies a high-touch and personalized approach to its range of next-generation contingent workforce solutions (with a broad range of service expertise and use of cutting-edge tech), enabli

EMGA Advises Landmark US$300M Debt Raise for BTG Pactual With DFC20.9.2021 16:00:00 CEST | Press release

Emerging Markets Global Advisory Limited (EMGA), the niche investment bank focused on emerging markets, announces today a landmark Senior Debt capital raise transaction that will allow BTG Pactual to expand its small and medium-sized enterprise (SME) activities in Brazil. The US$300 million debt facility was provided by DFC and the transaction is the largest Senior Debt facility ever advised by EMGA and follows on from a US$140 million transaction completed last year with DEG and Proparco, two European development institutions. The operation comes at a time when banks world-wide are exploring new cross-border funding options to further deliver on their support to businesses affected by the COVID-19 pandemic. Commenting on the transaction, BTG Pactual’s Caio Zanette said, “BTG Pactual is very pleased with the support of EMGA on pursuing this landmark transaction that will benefit our SME activities in Brazil. We continue to develop all our activities and the funding provided by DFC will

White Oak Buys Finacity in Flagship Acquisition20.9.2021 15:00:00 CEST | Press release

White Oak Global Advisors (“White Oak”) has completed the acquisition of Finacity Corporation (“Finacity”) a global leader in working capital and trade finance funding solutions to global businesses. Finacity originates, structures and places over USD$100 billion in trade finance receivables yearly with over 50 leading financial institutions in asset-backed security structures. Finacity has facilitated transactions for receivables denominated in 58 currencies with obligors in more than 175 countries making it the largest non-bank trade finance platform globally. The deal will see Adrian Katz remain as Finacity CEO and substantive equity holder, working closely with the leadership of White Oak Global Advisors. With this acquisition White Oak and its affiliates will have over 215 professionals focused on asset-based lending offering trade receivables securitization and a variety of ABL products including invoice discounting, factoring, trade finance, supply chain finance, lender finance

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom