“There is a heightened pace now as firms look at the new landscape and understand where their earnings are going to come from,” says David Becker, managing director and head of Asia Pacific at Broadridge. Firms were already investing in AI in order to increase efficiency and productivity, as well as to enhance data and security and redeploy staff to more value-added tasks.
Until now, such investments have been impeded by legacy systems. With revenues under strain, firms will address this challenge more aggressively. Asian institutions are best positioned to move the quickest.
“The customer base in Asia is mobile-native and data-driven,” says Kurt Eldridge, head of sales at Broadridge for Asia Pacific. “At the same time, there are fewer legacy challenges here.” Two examples of Broadridge’s AI capabilities show how technology is making firms leaner, safer, and more efficient. This in turn is unlocking new possibilities. Layering intelligence on top of back-office reconciliations is enabling trading desks to deploy capital much more effectively, while predictive analytics are helping asset managers get ahead of distribution trends.
2020 has challenged financial services like never before. Explore how we are helping clients in Asia Pacific navigate what’s next.