This is the second of a two-part FTF Exchange podcast with James Corrigan from SimCorp North America.
Financial services firms, including the buy side, are flocking to the cloud because it offers access to important integration tools and greater flexibility, says James (“Jamie”) Corrigan, executive vice president and managing director for SimCorp North America via an FTF Exchange podcast.
This is the second part of a two-part podcast chat with Corrigan. In this installment, Corrigan focuses on the Ops challenges of managing multi-asset portfolios, among other issues. The overall goal for firms is to optimally manage risk across an entire portfolio, and to put “efficient operating models in place,” he says.
Cloud computing is playing a greater role in all of this.
Over the past five years, firms have been more willing to embrace cloud-hosted environments, Corrigan says. When he joined SimCorp six years ago, most of the new clients preferred to host the vendor’s offerings internally, he says.
“The other half would want to use our hosting that we built up — our cloud offering. But then as we’ve progressed through, I think the demand for cloud has changed a little bit. It’s gone from simply wanting providers like us to run the technology, and the upgrades, and whatnot to wanting it in the cloud because they want more robust APIs [application programming interfaces],” Corrigan says. Firms also want to access data models and integrate them with the partnerships they’re creating. “You’re seeing a demand for more open environments, and more flexibility. And that, ultimately, is what the cloud gives you.”
In the first part of the podcast, Corrigan talks about why he thinks the company won the Best Buy-Side Enterprise Solution award for 2020 via the FTF News Technology Innovation awards competition: http://bit.ly/3t7VNwT
(The 2021 FTF Awards process has recently launched: http://bit.ly/3pxUKEc ).