Note from the Publisher:  Turns out that fintech is NOT just for banking.........or payments...........or digital currencies...........or blockchain............or insurtech...........or, oh never mind.  You get the picture already - it's everywhere.  This story is about the use of fintech by alternatives fund managers and their service providers.  It's scaling massively on both the B2C and B2B side, and this sector of the financial landscape is right there in the fray as well. 

"At SS&C Advent, an independent unit of SS&C Technologies who collectively support more than 10,000 customers worldwide, there has been, according to Jesper Steiness (pictured), Director of Global Accounts, a clear growth of interest among fund managers and service providers to improve automation with respect to alternative portfolio accounting and reporting. 

This is happening at a time when alternative fund managers are converging in terms of the products they offer, with hybrid fund structures becoming a more popular feature of the landscape. But given the complexity of the assets, and the movement of cash flows within these structures, both managers and administrators realise that technology is needed to improve transparency and reduce reliance on manual workflows.

'There has been a shift in the last couple of years. We see existing clients and prospects showing more of a willingness to improve efficiency. The banks, for example, appreciate they need to progress by moving away from spreadsheets and using new technology. There is a lot more capital being pushed into that area.

Most of the large institutions we speak to, not just in Luxembourg but in many different jurisdictions, say they have much more of a focus on Fintech than they did a year or two ago,' says Steiness. "

Read Full Article at Hedgeweek