Quick Take | The Transfer Agent of the (Near) Future

StopwatchAt the NICSA Strategic Leadership Forum in February, in a breakout session on “Put On Your Seat Belts, It’s Going to Be Quite a Ride!,” representatives from Betterment, KPMG, State Street and session sponsor Boston Financial Data Services talked about megatrends in the fund industry and their implications for service providers. Here’s the quick take from that session:

What do the megatrends in the fund industry mean for service providers?

  • Digital capabilities are essential
  • Hybrid model of convenient technology and light advisory emerging
  • Agility and fast response time needed for all interactions
  • Technology development cycles must accelerate
  • Staffing model must change – more geeks/ experts, fewer manual processors
  • Culture shift is needed

In short, the Classical Transfer Agency . . .

  • Traditionally-focused
  • Transaction-oriented
  • Paper/ phone-based
  • People-intensive processes

. . . must become a Smart Servicer:

  • Addressing segmented needs
  • Customer experience
  • Robust digital capabilities
  • Operational innovation
  • Data analytics


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