Insights on AI, Cloud Adoption and the 5 Cs
It’s been a busy month at Asset Control, with the team attending a number of engaging events, including hosting our very first Canadian Client Conference, our annual Americas Client Conference and User Group session. These events gave us a great opportunity to talk with clients and discuss how, as an industry, we can lower the cost of change as new technology come in to play,
As well as hosting our own events, we were also fortunate to attend the Data Management and RegTech Summits in New York and London respectively, where we heard from industry experts about the priorities in data management. A
Increase in public Cloud solutions
Cloud adoption was one such topic at the DMS event in New York. With our recently launched ACX solution – a cloud-deployed data analytics, exploration and processing platform – this is something we were keen to hear about.
Brennan Carley, global head of enterprise at Thomson Reuters explored the merits of Cloud in detail, discussing its ability to scale, agility, reduced costs and greater data integrity. An important consideration is its increased data security, which is now on par with or traditional enterprise data security. These points made a compelling case for the increased adoption of Cloud-based solutions and with 95% of RegTech suppliers now Cloud-only, it seems we’re not the only ones who agree.
With continued developments and significant benefits to the end user, the benefits of Cloud are too great to ignore. Our own solutions are a clear example of how these developments are enabling greater capabilities within data management.
The 5 Cs
As sponsors of this year’s event, we looked forward to the RegTech Summit. At Asset Control we are always looking to keep up with the latest developments in technology but also, more importantly, with how clients can put it to use to their advantage. A talk by Stephane Malrait, MD, Global Head of Market Structure and Innovation in Financial Markets, at ING proved thought-provoking in this area, suggesting that RegTech firms and their solutions should be assessed based on the extent to which they meet the ‘5 Cs framework’.
The framework consists of being able to: deliver for Clients, reduce Costs, improve Capital, increase Control and demonstrate Compliance. As clients and their needs are at the heart of all these solutions, this is a great benchmark by which the industry can ensure it is meeting expectations.
As well as hosting our own events, we also took to the stage at DMS to discuss adopting and integrating analytics, AI and machine learning to revolutionize your organization. In this panel we opened the floor to explore how this technology can be adopted to improve efficiencies and drive value, and how to overcome some of the challenges of integrating this into your business.
As an overarching theme of our events we also looked at how to lower the cost of change and how new developments in data management solutions can allow firms to scale and to more interactively source from both public as well as commercial data sources.
The team at Asset Control was delighted to see such a great turnout to its own as well as industry events and to be able to engage its client base and the industry at large on the future of data management.