Uptake of fintech innovations has been slow in the funds
industry because of a lack of trust and support from
regulators, according to panellists at the Association of the
Luxembourg Fund Industry’s Transfer Agency &
Asset Servicing Forum Asia in Hong Kong SAR.
In order to further the adoption of fintech in the funds
industry, a change of mindset is necessary. Fund managers are
increasingly faced with the pressures of low cost funds, low
margins and the rising cost of meeting regulatory demands.
Without paying attention to fintech, traditional fund managers
will lag behind and be overtaken by disruptors that can offer
better services in providing a better customer experience,
whether it be client onboarding, subscription or
"IT legacy systems and regulation remain barriers to fintech
adoption in the funds industry," said Sébastien Chaker,
executive director, Fondcenter Asia-Pacific at UBS Asset
Management. "While fintech is talked about a...