Citi launched the Clarity Velocity platform for its custody and fund services business in 2018, and has subsequently earned industry-wide recognition.
Tag: big data
A data services platform established by NES Financial says it will support the rise of new advanced fund administrators as legacy providers continue to face challenges.
The new role will oversee all of Citi's technology teams across the global and sub-custody businesses, as well as fund, securities and issuer services.
New capabilities will gather client data across their own business and other third-party providers, in order to provide new insights and support client strategies.
Commercial interest in APIs is rapidly growing among securities services providers, enabling for custodians to launch new self-service tools.
Custodians could play a large role in the ESG space as they look to take up the role of a big data aggregator in order to inform clients of relevant ESG developments.
The report suggests custodians are no long the central hub of technology for RIAs, with tech vendors now providing direct competition over data and analytics.
Big data is coming under growing scrutiny in certain quarters, as the risks of bad data could have an adverse affect on machine learning tools.
Custodians could deliver superior value focusing on identifying operational pain-points for customers and created solutions off the back of it, according to Deutsche Bank.