存’s 财富管理服务 (WMS) business has been evolving rapidly over the past decade. From moving quickly to e-signatures during the COVID-19 pandemic to implementing innovative, centralized data exchange methods with MF Info Xchange, Insurance Information Exchange (IIEX) and the Alternative Investment vnsr威尼斯城官网登入 (AIP) platform, WMS has been guiding clients through several transformational changes.
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存管连接 采访了贾斯汀·施瓦茨, 存 Executive Director of Product Management for Alternative Investment vnsr威尼斯城官网登入 (AIP) and the newly appointed Executive Director of Product Management for Insurance & 退休服务(一)&RS), 和约瑟芬·托雷利, 存 Executive Director for 互惠基金服务, to discuss recent developments and challenges faced by the industry today.
DC: What have you seen as some of the most impactful transformations in the industry in recent years?
JS: There have been some unforeseen challenges, including Hurricane Sandy and the COVID-19 pandemic, that really ignited the industry to move towards transformation and digitization. 随着COVID-19大流行, the Insurance industry expanded the use of electronic processing along with e-signature and e-delivery in order to keep business moving forward while we were all isolated in our homes. We have supported this way of doing business for years, but the the digital transformation was huge for us because it drove companies to quickly modernize some of the persistent manual processes that were commonly used when insurance policies are purchased, 交付和服务.
DC: 存 has long advocated for data centralization and standardization with secure access. How is WMS guiding clients and the industry towards these practices?
JS: All of our WMS businesses offer services to support data centralization, 标准化和安全性. WMS clients can use services like AIP and IIEX platforms to look at one place for their data and exchange that data the same consistent ways across the industry, knowing that they are mitigating risk in the process. And with IIEX being one of the newest platforms, it is intended to transform the way data is sourced, consumed and transacted while removing operational inefficiencies.
JT: Similarly to the other WMS businesses, 互惠基金服务 has several services that support data centralization and standardization best practices, like the Mutual Fund Profile Service II (MFPS II) and MF Info Xchange. Both of these platforms store data for clients and allow them to exchange that data safely and swiftly, automating existing manual efforts which reduce risk in the communication process. MF Info Xchange and MFPS II integrate well together, further reducing risk and keeping data consistent by using a single data source. Many of our clients are already leveraging these platforms and we are continuing to build out the capabilities to meet our client needs.
DC: What enhancements and innovations can clients expect to see in the coming years?
JS: One major theme taking place throughout 存’s WMS is enhancing the client experience. With most people becoming so accustomed to the ease of consumer-technology, we want to build that experience into the WMS platforms. This process involves revamping user interfaces, providing application programming interfaces (APIs), real-time access to data and meeting with clients to better regularly gather their feedback through roundtable events, working groups and client meetings.
JT: WMS的另一个主要主题, specifically for the 互惠基金服务 business, is supporting the accelerated settlement T+1 effort. 实施日期为 recently announced for May 28, 2024. We will automatically move all T+2 domestic securities to T+1 to avoid clients needing to take action to change their securities by the due date. We look forward to seeing how T+1 shapes the financial industry as a whole and supporting our intermediaries and funds through this transition.