Eagle Investment Systems LLC have published new research exploring the extent to which investment managers can meet their current business needs with existing technology infrastructure and the adoption rate of cloud-based services and APIs to support investment processes. The research, highlighting the effect of aging legacy systems, demonstrated the pronounced need for agile systems in meeting the strategic challenges financial services firms face in today’s fast-paced and evolving environment.
Eagle’s “Age of Agile Solutions” white paper included a survey of senior-level professionals from global banks, asset managers, hedge funds and insurance companies. The findings revealed that, while well over half (61 percent) of respondents stated their organization utilizes some cloud solutions and APIs, only 11 percent described their technology as agile and ready for cloud-enabled transformation.
Other notable findings from the survey include:
- More than nine out of every 10 respondents recognized the importance of delivering solutions quickly to meet new business needs, yet fewer than eight percent felt their organizations were prepared to do so.
- Fifty-one percent of individuals surveyed said their organization relies on seven or more systems to meet their investment process.
- To fuel growth in today’s challenging market, 60 percent of organizations are looking to improve operational efficiency, while 45 percent responded that they are expanding product offerings or focusing on core competencies.
- Sixty-two percent of those surveyed described their ability to introduce new solutions to meet evolving business strategies as “fair”, “poor” or “very poor”.
The report concluded that investing in a robust data management framework and embracing new technologies and service models will help to enable organizations to be quick and agile in responding to changing business demands. Eagle’s Data Management solution along with Managed Services can help firms establish a foundation where legacy systems can be replaced, and preferred systems can be introduced quickly, to meet the high expectations from the revenue-generating side of the business.
The full white paper can be found here.