In the dynamic and ever-changing realm of wealth management, the role of technology is of increasingly crucial importance. In response to this necessity, the Association of Swiss Asset Managers has introduced a pioneering initiative aimed at providing invaluable insights and guidance to professionals within the industry.
Acknowledging the pivotal significance of effective IT solutions for wealth managers, the Association of Swiss Asset Managers (VSV) has forged a partnership with EAM.Technology, an independent leader in technology, operations, and innovation. Together, they have initiated a comprehensive study titled “Technology Radar 2024,” with the purpose of thoroughly evaluating the system landscape within the wealth management ecosystem.
Oliver Maas, a distinguished representative from the Association of Swiss Asset Managers, has emphasized the study’s overarching objective of equipping wealth managers with the necessary tools to drive digitalisation, enhance operational efficiency and competitiveness, and mitigate operational risks. This study aims to shed light on the most suitable IT solutions and provide valuable insights into the successful implementation of IT projects – an aspect often shrouded in mystery for many wealth managers.
At the heart of the study is the goal of assisting members in identifying the levers, cost drivers, and risk factors within their systems, with a specific focus on establishing a sustainable operating model. By simplifying the identification of customizable frameworks for essential requirements across various business processes, the study aims to alleviate the complexities associated with implementation.
Furthermore, as part of its commitment to enriching the knowledge base of wealth managers, the association’s study will provide an overview of reputable service providers. Exclusive consideration will be given to established companies operating in Switzerland or with a local presence and adhering to stringent data protection regulations in Switzerland and Europe. By focusing solely on established providers, the study aims to offer practical insights that align with the prevailing standards in wealth and portfolio management.
The results of the “Technology Radar 2024” study, including a comprehensive provider matrix, are anticipated to be released to VSV members in the upcoming fall. This highly anticipated release is poised to equip wealth managers with a wealth of valuable information, enabling them to make well-informed decisions in relation to their technological infrastructure.
In conclusion, the launch of this pioneering initiative by the Association of Swiss Asset Managers represents a significant stride in demystifying the intricacies of digitalisation in wealth management. By providing clear guidance, valuable insights, and a comprehensive overview of reputable service providers, the initiative aims to empower wealth managers to harness the full potential of digitalisation, thereby positioning themselves for sustained success in the dynamic landscape of wealth management.