Here are some recent technology-based developments in the fund management industry, including the use of “micro apps” at Schroders, and MiFID II compliance.
SCHRODERS’ STAFF GET MICRO-APPS
Schroders selected Capriza to help drive the £375 billion (€433.5 billion) asset manager’s digital transformation.
Capriza uses “micro apps” technology to “mobile-enable” various business functions using packaged solutions, including the popular Saleforce workflow system.
Essentially, it means more routine duties can be done on the move.
Capriza said that Schroders “needed the ability to link and re-configure core processes from funds administration to investment strategies and sales, using easy-to-use front-end technologies”.
Capriza’s micro apps do this without the need to “rip and replace” legacy software and “requiring virtually no re-training of app-savvy modern users”.
Micro apps are already used in sectors such as automotive, healthcare and education. Schroders will be one of the first in the financial sector to use them.
AQMETRICS FOCUSES ON PRODUCT SUITABILITY
Reg-tech firm AQMetrics enhanced its cloud-based risk and compliance solution for better MiFID II functionality.
The enhancements include an updated “supervisory control portal and risk register” to provide client classification and product appropriateness factors.
Product suitability is a key issue under MiFID II, the updated Markets in Financial Instruments Directive.
The firms said the enhancement will mean that users globally will be able to prove they have made best efforts to ensure their clients are classified correctly and that appropriate products are being sold to clients.
CG ASSET MANAGEMENT IMPLEMENTS INDATA
CG Asset Management, a London-based asset manager with $2 billion of assets under management, implemented Indata software for front office and compliance functions.
The full quite of Indata’s cloud-based iPM Epic platform that CGAM is using covers order management and front office investment book of record (known commonly as Ibor), compliance, portfolio accounting and data management for multi-assets.
The priority for CGAM was to have a fully integrated front office solution that included a order management and a pre- and post-trade compliance module to accommodate its multi-strategy investment approach, including significant global fixed income, said Indata.
The asset manager was also looking for a shadow accounting capability in line with industry best practices of keeping a parallel and independent Ibor separate from its custodians from a portfolio accounting standpoint.
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