Bank of England launches post-trade task force to tackle outdated systems
The report from the UK central ban found that financial firms are spending upwards of $20 billion a year on post-trade processing systems alone.
Tag: legacy technology
HSBC Securities Services builds data standardisation tools into new tech framework
HSBC is implementing a layer of APIs that chips away at its underlying legacy tech, while at the same time, standardising data and information flows to its custody clients.
Custodians aim to bring a new standard to legacy infrastructure systems
New and disruptive technologies are causing a fundamental shift in mindset towards approaching legacy systems as custodians look to think outside the box.
The legacy of legacy technology
The securities services industry is still plagued with legacy technology systems that are 15-20 years old at a time when the rest of the world is moving forwards at an alarming pace with new technologies. Joe Parsons looks at how firms are identifying what needs to be changed or updated, and how they weigh up their options.
SS&C re-platforms UK’s largest wealth manager
The move sees SJP migrate its £69.1 billion of assets under management from its legacy system onto the SS&C's Bluedoor platform.
How Citi is shielding clients as it looks to overcome legacy systems
To protect clients from any destabilising effects of replacing elements of its core legacy platforms, Citi is deploying a unique tech strategy.
Ambitious start-up looking to take on legacy data platforms launches
FinTech firm Finbourne has released an early access programme for its flagship cloud-based investment data management platform, LUSID.
JP Morgan’s senior custody and fund services technologist departs
JP Morgan has increased spending for the business’s technology by a third, and now has one of the highest operating margins than all of the global custodians.
Global custodians increase tech spend in new arms race
A UBS survey showed 87% of participants from banks with assets of $250 billion and above believe technology spending will increase annually over the next three years.
Despite benefits of big data, asset managers slow to adoption
Asset managers have been slow to incorporate big data into their day-to-day operations, despite the cutting edge tools on offer to deliver, alpha according to Sibos panelists.