Almost two-thirds (62%) of UK asset managers have admitted to still using fax machines, as antiquated technology remains the backbone of many of their operations, new research has found.
Lack of automation is continuing to hold back the UK asset management industry, Calastone's Global Funds Automation Report has argued. The report revealed that only 41% of asset managers believed their organisation was mostly or fully automated, meaning there were still many areas that required greater use of technology to prevent unnecessary costs or increase risks. These results clash with the priorities of asset managers, who identified client service (80%), operational cost reduction (75%) and regulation (53%) as key drivers of their automation strategies. SVB collapse sends ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
