The survey finds banks in Asia do not have the technology to meet high net worth customers’ reporting and analytics demands. 85 percent of those surveyed say their middle office technology is not up to par. 49 percent of respondents believe the most significant client reporting challenge is access to accurate investment data. When asked about plans to improve overall customer experience, 62 percent indicated providing online and mobile access is a priority.
Other key findings from respondents include:
- 56 percent reported performance and attribution analytics will deliver the most value to customers
- 38 percent cited automating and consolidating investment data in a timely manner an ongoing challenge for client reporting
- 57 percent don’t think their investment management data analytics are meeting reporting expectations
- 56 percent don’t have a single data management platform that consolidates data from all relevant systems
- 21 percent of banks continue to rely on spreadsheets or end-user databases for tracking investment data