Innovating together: what is happening in Wealth & Asset Management
The AM Tech Day held in Paris and organised by AGEFI, leading media group for the financial community in France, was again the-place-to-be for everybody who wants to keep himself/herself up to speed with what is happening in the Wealth and Asset Management space, in France and across Europe. A physical event, after a long period of virtual events, was appreciated by the audience! This event brought together 800+ professionals that were a broad and diverse representation of asset and wealth mangers, private banks, fintechs and solution providers. We had the opportunity to listen to and discuss about the latest trends in the financial services industry.
Who is the perfect partner?
This was the main theme of the day. It is clear that in this era of effective collaboration and maximised hyperpersonalisation of client experience, institutions need innovative and robust solutions. Decision makers look into the market for solutions even before the option of ‘building it ourselves’ is explored. This is driven by the pursuit of maximising the time-to-market. Solution providers are aware of this, and focus on open systems and open components that can easily interact or be integrated in other ecosystems. Objectway is one of the pioneers in designing solutions with open architecture. Openess and API facilitate collaboration and access to innovation.
Another topical trend that was highlighted and discussed during the event was oursourcing, in the broad sense of the word. Outsourcing accelerates growth and maximises efficiency. Wealth companies want to focus their people on areas where the growth is: client acquisition and client satisfaction. Innovative solutions that support this process, integrated in a wider ecosystem, powered by hyperpersonalisation, are more than ever in demand. Several workshops elaborated on this topic, powered by some real showcases.
Fintech into the spotlight
The role of fintechs was, same as in previous editions, put into the spotlight: young people with refreshing views or experienced experts building point solutions. In multiple sessions, the opportunities, challenges and pitfalls of partnering with start-ups and/or fintechs were further elaborated. A topic that captivated a large group of participants, as starting to develop a company-wide culture for innovation, and integrating it into strategic planning and budget process, remains a pivotal matter to deal with for imcumbents firms.
And at the end of day, it was time to discover some gastronomic creation and innovation brought by the pastry chef of a renomated hotel in Paris. Some relaxation after a very interesting day.