SS&C recently participated as a sponsor in FundForum International, a conference attended by 1,500 senior professionals from the fund management industry. Scott Kurland, Global Head of Product & Marketing for SS&C Singularity spoke on the panel “(Even More) Disruption in the back office: Latest market trends in emerging and developing tech). Kurland focused on the innovative technologies used in the SS&C Singularity platform, and how they are poised to provide tremendous operational efficiency to the middle and back office.
There have been industry changes in recent years as technology has progressed, and Kurland discussed those changes. “A whole lot has changed in the back office. As an asset manager, you’re dealing with far more complex asset types in your investment portfolio than ever before, far more regulatory challenges, a significant increase in transaction volumes, and the need to be able to provide accurate information in real-time. And you have to do all of that at much lower cost.”
Kurland spoke generally about how machine learning can help speed up and facilitate data conversions from legacy systems that historically could have taken 2-4 years. He also spoke more specifically about how Singularity was designed with embedded innovative technologies to give asset managers additional operational efficiency and insight into the back office.
Through supervised machine learning, humans can train new systems to identify patterns in data and move users to more exceptions-based processing models. Singularity was built with “embedded artificial intelligence, machine learning, predictive analytics, and automated workflow tools, but at the same time it also leverages time-tested accounting rules, calculation libraries, and common services for things like pricing, factors, rates…things that are needed in order to properly account for and value the assets in the investment portfolio.”