Global Trustee and Fiduciary Services News and Views Issue 50

Global Trustee and Fiduciary Services News & Views | Issue 50 | 2018 57 not approach an asset management firm in a traditional manner. And the ability to access the system on the move allows a greater ease of access for clients who may not have the opportunity to sit down with an asset manager. Such applications are almost a necessity for modern retail banking, and we’re beginning to see firms offer investment banking applications as well. As more and more investment is made by younger generations, who prefer in many cases to manage their finances through apps and the internet, it’s of paramount importance that asset management firms consider fintech not just as a tool to make their own businesses more profitable and efficient but also as a tool for enticing in investors who may be put off by the traditional way of doing things. Which way should asset managers go? Even though asset management firms have made great strides in incorporating fintech into their operations, there’s still plenty of scope for further adoption of technology. Banks and payment services firms have proved that integrating fintech solutions more fully into customer interaction is an effective way to not only attract new investors but also to retain them in the long term. Automation can not only ease pressure on the research and investment front, but it can also help relieve pressure by answering simple customer queries, allowing human staff to focus their efforts where they’re most needed. It can also serve as a way to entice investors who want a portfolio managed in a different manner to traditional active funds. Fintech solutions such as mobile access can make it easier for investors to continue to interact with their investments and will lead to increased retention of investors by managers that are willing to adopt these methods. Fintech already seems set to penetrate into nearly every aspect of the business world, with insurance, regulation and crowdfunding all affected as keenly by these new developments as banking and asset management are. The technologies that have already been widely implemented have indelibly changed the way asset management firms operate. As such, asset management firms should continue to adapt and adopt fintech solutions in the future. Sam Robinson Partner CMS Cameron McKenna Nabarro Olswang LLP 1 https://www.pwc.com/gx/en/financial-services/pdf/fin-tech- asset-and-wealth-management.pdf. Link here . 2 https://www.securities-services.societegenerale.com/en/ insights/technology/tech-magazine/asset-managers-the- fintech-world-doomed-like-dinosaurs/. Link here . 3 https://blogs.thomsonreuters.com/financial-risk/wealth- management-private-banking/how-ai-is-supercharging- wealth-management/. Link here . 4 https://www.crisil.com/content/dam/crisil/our-analysis/ reports/gr-a/whitepapers/big-data-in-asset-management- may2017.pdf. Link here . 5 https://www.calastone.com/insights/challenges-and-drivers- for-fintech-in-asset-management/. Link here . 6 https://ww2.leggmason.com/trendingconversations/pdf/key- findings/uk.pdf. Link here . 7 https://www.ft.com/content/0bb9f8ce-d330-11e6-b06b- 680c49b4b4c0. Link here .