Silicon Valley: Friend or foe to asset management?
April 3, 2018
April 3, 2018
Silicon Valley is a blessing and curse to asset managers. On one hand, the innovation that comes from the Valley has been an important enabler across financial services. On the other hand, these companies may one day become formidable competitors—sooner than people might realize.
The barriers to entry in asset management are not high, and Silicon Valley already has its eye on ways to disrupt the industry. It is only a matter of when, not if, these new competitors will strike. To prepare, asset managers must work and partner in different ways to remain competitive. By taking lessons from these high-tech leaders, asset managers can “beat them at their own game,” and stay ahead in changing times.
Silicon Valley giants already use digital platforms, brand recognition and technology to expand into new industries.
Asset managers have historically succeeded by differentiating themselves in the way they develop and distribute products, manage assets and deliver client service. As Silicon Valley looms, new approaches are critical:
No matter how well asset managers run their operations, they may lose to competitors who excel in consumer engagement.
Accenture is well positioned to help asset management firms navigate the challenges and opportunities of disruption. In addition to working across industries to help our clients harness the power of digital to create new business value, we bring deep investment management and industry-leading technology experience. This combination provides clients unique insight into designing an operating model using new technologies and applying it successfully in financial services. Interested in discussing your plans?
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