Fintech has been making serious inroads in banking lately, but how is it faring over on the asset management front?
International law firm Simmons & Simmons, together with research firm Longitude Research, recently surveyed 200 senior-level respondents from large banks and asset managers just to see how they’re adapting and surprisingly, all signs point to fintech having a bright future in the asset management space.
Here are five key numbers from their Hyperfinance report:
48% – The percentage of asset managers who have implemented data analytics engines. This is higher than the 36% posted by their peers in banking.
64% – The chunk of asset managers that are likely to place new agreements with fintech partners over the next 18 months.
64% – The percentage of asset managers who are focused on building in-house fintech expertise.
50% – Of all respondents say that they are involved in “considerable” collaboration with fintech companies. This is on par with their banking counterparts.
27% – It may be ahead in other aspects, but less than a third of asset managers surveyed have acquired a fintech firm or an innovative startup in the past three years.
Simmons & Simmons will be launching the Hyperfinance report (PDF) on April 25 at the law firm’s offices at One Pacific Place. Aside from the report, the launch also features discussions on fintech’s risks and rewards as well as its implications for compliance, security, and company culture.
Speakers at the event include:
Jolyon Ellwood-Russell, partner, Simmons & Simmons
Alex Medana, CEO and co-founder, FinFabrik
Melissa Chim, consultant, Simmons & Simmons
David Rosa, co-founder, Neat Ltd.
Ian Wood, partner, Simmons & Simmons
To register for the launch, click here.
Photo: Allan Ajifo