State Street Vision Report Looks at Impact of Emerging Technology on Financial Services
April 13 2011 - 1:00PM
Business Wire
State Street Corporation (NYSE: STT), one of the world’s leading
providers of financial services to institutional investors,
released its Vision Report today examining the impact of emerging
technology on financial services and investing. The report,
entitled “The Evolving Role of Technology in Financial Services,”
looks at the impact of forthcoming advances in three specific
areas: analytics, electronic trading and regulation, and portfolio
allocation and modelling.
The report takes a look at the impact that next generation
technology such as cloud computing is expected to have on the
industry. According to the report, investors will see unparalleled
benefit through greater automation and capacity on demand,
accelerated time to market of innovative new products — including
custom analytics and data — greater security and strengthened
client service. A podcast on cloud computing will be available at
www.statestreet.com/vision/technology on Thursday, April 14,
2011.
State Street’s Vision report also explains that, unlike today,
the financial services industry will soon deploy increasingly
sophisticated, forward-looking technology tools and analytics that
will enable investors to understand and model actual precursors of
performance. For example, instead of today’s simple descriptions
related to risk position and market stability, investors will soon
be able to see more acute and intricate insights and the actual
factors that contribute to those risk positions. These factors
alone, the report states, will have reverberating impacts on the
habits, business processes and decision-making of institutional
investors around the globe.
“A great transformation in financial services is well under way
and global investors stand to reap tremendous benefits,” said
Christopher Perretta, executive vice president and chief
information officer for State Street. “Investors have always
demanded more information, faster information, greater transparency
and improved risk management. They will soon get their wish as
forthcoming technology will enable them to slice, dice, process,
manage and correlate data in ways that will give them exponentially
greater value and security, enabling them to make better and more
informed investment decisions than ever before.”
Specifically the report is broken into three main sections:
1. Technology with a Purpose: The Next Generation Today —
Discusses the integration of risk and return technology by
investment service providers to address asset managers and asset
owners’ growing need for more detailed portfolio analytics, process
transparency, risk management and dashboards to improve the speed
and kind of information they are receiving and their access to
it.
2. Using Technology to Adapt to the New Regulatory
Environment — Examines the review of electronic trading by
regulators following the start of the financial crisis in 2008.
Technology has been at the forefront in enabling the exponential
growth of electronic trading and has become the only solution to
effectively meet the challenges inherent in new trading
regulations.
3. Portfolio Allocation and Modelling — A
Technological Arms Race? — Explores technology’s solutions to
meet today’s leading global asset management challenges, including
market crowding, pricing inefficiencies, risk and rebalancing.
To obtain a copy of the Vision paper, or to learn more, please
visit www.statestreet.com/vision/technology.
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment management, investment research and trading
and investment servicing. With $21.5 trillion in assets under
custody and administration and $2 trillion in assets¹ under
management at December 31, 2010, State Street operates in 26
countries and more than 100 geographic markets worldwide. For more
information, visit State Street’s website at
www.statestreet.com.
¹This AUM includes the assets of the SPDR Gold Trust (approx.
$58 billion as of December 31, 2010), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
CORP: 0316
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