Global Custodian Winter 2018 | Page 41

[ A D V E R T O R I A L ] managers and their clients can plug in and automate data production, as well as help with client relationships. The automation of this data can also benefit the front-office for private equity managers. Veritas Capital’s Donner added a tool that can consolidate data across the entire business and can then be applied to help front-office decision-making will be of great value to the alternative invest- ment community. “We want to take all of the information we are collecting in the organisation, plus external information, and find some value from it, specifically to our front-office so they can use that data to predict cognitive performance, look for trends or use it in the investment process,” Donner high- lighted. However, while new applications and new technology may well be good in principle, the problem is how to tie all of these systems and platforms together. With each piece of technology being so specialised, there is a risk that they may not integrate with each other and the fund manager may not be able to extract the necessary data. “We are buying more solutions, but we are pushing on all of them to help us with the integration piece so that we are not working with all of these different tech- nologies that we then have to run reports out of and load onto another system,” said Margaret Mangelsen, director of account- ing and operations at Argentem Creek, a $2 billion emerging markets-focused hedge fund manager. Technology vendors, such as FIS, are now being tasked with providing some form of standardisation that enables a seamless integration between legacy and new technology platforms. “The holy grail is to integrate all of these technologies, and bring a standardised concept. Our approach to solve that prob- lem is to standardise how these systems talk to each other,” explained Chung. “If you look at the concept of an app store on your phone, there is a whole industry called integration platform-as- a-service that is trying to do the same thing. We want to work on something that integrates like a public application to help our customers bring everything together. Our end goal is to get to a place where we can deliver technology on a continuous delivery model and standardise a lot of the integration process.” It is increasingly becoming a reality for alternative fund managers to adopt a new technology strategy. As the industry evolves to meet new investor and regula- tory demands, doing nothing with your technology is not an option. At the same time, fund administrators will have to adapt their service offering and providing new tools to meet these demands. Whether new technologies such as robotic process automation (RPA) and blockchain will become part of servicing alternative fund managers remain to be seen. But the demand for efficiencies and value-added services could mean these technologies will become part of the mainstream sooner rather than later. Winter 2018 globalcustodian.com 41