SS&C Eze sat down with Hedgeweek to discuss investment management industry trends brought on by the coronavirus, how the right investment management platform can amplify firms' businesses, and how SS&C Eze’s unique partnership approach can help firms in Singapore navigate this new environment.
Hedgeweek: What are the main opportunities and challenges managers face when looking to set up their operations in Singapore?
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) program incentivizes firms to modernize operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This program, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.
Operational resilience is critical to raising capital and attracting global investors. Asset managers need to prove they’re equipped with an institutional-grade system that manages risk and compliance efficiently. With increasing regulatory complexity and investor demands, along with expanding ODD requirements, scalability is crucial. Many Singapore managers have yet to realize the full benefits that the right investment management platform can bring to their firm. Firms can improve commission management by integrating it into the trading process. They can holistically view fees across short borrow costs, swap financing, or capture better FX spreads to manage overall costs better. You can do all of that with a robust investment management system without adding operational overhead.
Hedgeweek: What role do technology, infrastructure and skill play in the future strategy of Singapore’s financial services industry?
The pandemic has transformed how most people view work, underscoring the importance of mobility, accessibility and business continuity. We already saw an increase in cloud adoption across our client base globally, and the current crisis is accelerating that trend. Firms can gain an edge with the right investment management platform, using technology to amplify their business. By streamlining inefficient workflows, automating lower-value and manual processes, your team can spend more time on things that matter the most to your business.
Hedgeweek: How do you see business in Singapore developing in the next 12 months?
At SS&C Eze, we signed our first Singapore client more than ten years ago, and we’ve had a local presence since then. We’re excited to further invest in this region and the ASEAN market.
With the backdrop of the Covid-19 pandemic, we saw many people holding back and sitting on the sidelines. Now, everyone is starting to settle into this new normal and becoming comfortable with a new way of doing business. During this time, reliability and trust matter. With our unique partnership approach, we’re well-positioned to help Singapore firms navigate this new environment. We think there’s an exciting opportunity in Singapore for SS&C Eze to help asset managers achieve more cost savings and derive even greater value for their business through technology.
As travel restrictions and local safety measures are gradually eased in Singapore, the local government foresees the economy likely expanding 4% to 6% in the next year as part of a global recovery from the coronavirus pandemic. Amidst this recovery, SS&C Eze, a Monetary Authority of Singapore (MAS) approved vendor under the Digital Acceleration Grant (DAG) program, will continue partnering with MAS to support Singapore asset managers with solutions to help them expand their businesses in this new environment.
If you are interested in applying for the Digital Acceleration Grant (DAG) program to help subsidize a digital solution for your firm, click here to learn more:
To see how SS&C Eze powers fund launches with its cloud-based front-to-back office platform, click here.