WealthTech Views Report: Looking into 2021, created by the Wealth Mosaic, provides insights and intelligence from technology thought leaders from across the globe on the main technology trends in wealth management they expect to see in the year ahead. Contemi's Business Development Director, William Rouse, shared his insights into the challenges, opportunities and industry talking points for 2021.

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WealthTech
Views Report
Looking into 2021
February 2021
Issue 1.1

2. We published our first ‘Looking into the year ahead,’ report in early 2020. It is
not surprising that at that point in time not one of the participants foresaw
a global pandemic coming that would disrupt the entire globe, both from
an economic and societal standpoint. From the range of questions we
asked that covered what challenges and opportunities they saw in the year
ahead, the key themes from the responses in 2020 were as follows:
• The ongoing challenge for some wealth management firms was to
consider investment in technology as a means of generating a positive
return on investment, as opposed to being a pure cost
• There was momentum in the desire to make sure that systems in both
the front and back office were connected to maximise the benefits of
technology
• There was a significant opportunity to use technology to meet the needs
of both clients and advisors in a fully holistic way, given the increasing
demands from the digital first generation
• Machine learning and artificial intelligence (AI) was starting to have an
impact in the wealth management sector however there was still some
way to go before it could achieve its full potential
We asked the same set of questions to a number of our clients this year
and as you will read, the disruption caused by Covid19 has accelerated the
digitization of the wealth management sector. This is especially with regards
to client engagement tools as they have become crucial for wealth managers
to operate in a lock-down environment. It is also clear that the use of machine
learning and AI is still in its early stages of adoption however it seems there
are an increasing number of use cases where it is making wealth managers’
lives easier. You can see the summary highlights of this year’s responses on
the next page.
You will also see in this report the output of the short survey we conducted
with clients of The Wealth Mosaic to enable us to gain insights into what they
are experiencing in the market today. As you will read from the results it was
interesting to see that most firms considered it relatively easy to transition to
remote working. However, for all the need to invest in technology, it seems
wealth management firms have become slower to make decisions which is
probably due to the significant disruption Covid-19 caused to their internal
organisations and how they engage with their clients. You can read the rest of
the results in the report. It is worth noting that we will now conduct this client
survey every year to accompany this report so we can track of the general
sentiment of the industry from a technology vendor perspective and share
these insights with the market.
Welcome Contents
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SIX Group
4-6
Point Group
27-30
Introduction
3
FundsDLT
13-15
Tradesocio
32-35
Contemi
8-12
Ortec Finance
21-25
InvestCloud
36-39
Our Services
40
Investor Connect Service
41
Our Report Programme
42
Our Business Needs
43
Report Survey
17-20
Welcome
2

3. Stephen Wall
Co-founder & Head of Marketplace
Email: stephen@thewealthmosaic.com
Simon Ramery
Co-founder & Director
Email: simon@thewealthmosaic.com
The Wealthtech Views Report: Looking into 2021 includes
views from thought leaders from seven technology solution
providers from across the globe.
The contributing firms include Contemi (Singapore), Finantix
(US), FundsDLT (Luxembourg), Ortec Finance (Netherlands),
Point Group (UK), Six Group (Switzerland), and Tradesocio (Dubai).
The technology vendors cover a cross-section of business needs,
wealth manager client types, and territories, therefore providing
some insights into the global market.
Each thought leader was asked the following questions:
1. Challenges: What do you see as the main technology and
technology-related challenges for the wealth management sector
through 2021?
2. Opportunities: What do you see as the main technology and
technology-related opportunities for the wealth management
sector through 2021?
3. Client focus: When considering your wealth management
clients and prospects, where are they currently focusing their
technology investments and resources: clients, advisers/staff or
their business infrastructure?
4. Excite: When you look at the technology capabilities and
resources now available to the wealth management sector, as a
solution provider, what excites you most in 2021?
5. Your focus for 2021: As a solution provider to the wealth
management sector, what will you be doing in 2021 to help your
clientsandprospectsmeettheir main technologyandtechnology-
related business needs?
Report Themes
As you will read, several clear themes come through from their
responses. At a high level, they include:
Wealth managers continue to struggle to implement new
technologies due to issues with legacy technologies and
managing the desired change internally
The pace of change and disruption in the sector is seen for
some wealth managers as over-whelming, causing inertia
Thereisstillsignificantopportunityforthewealthmanagement
sector to embrace and use AI, quantum computing and
machine learning technologies to enable them to assess and
use their data more effectively, both internally and for the
benefit of clients
The traditional wealth management model, based on in-
person meetings, is facing enormous challenges, especially
due to Covid-19, which is causing advisors to use technology so
they can engage with clients anytime, anywhere
The use of blockchain, smart contracts and tokenisation
is increasing in the sector as it can enable wide-ranging
structural change and create new business models for wealth
management
The ever-changing regulatory landscape continues to
challenge the global wealth management industry, especially
in the UK and Europe as a result of Brexit-related complexity
Introduction
Want to stay informed
on the developments in
the global Wealthtech
sector?
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4. 2. Introducing Contemi
Company overview
Contemi Solutions is a leading technology and digital
software solutions provider to the Asset & Wealth
Management, Capital Markets and Insurance sectors
across the UK, Europe, Asia, and Australia.
Contemi’s modern end-to-end technology solutions
help financial services firms to: harness the power of
innovation in the evolving world of cloud and digital
platforms, cost effectively streamline operations and
improve agility, and attract new growth.
With over two decades of experience in financial
services transformation, Contemi’s expertise covers:
digitalising Wealth Management lifecycle through its
award-winning, cloud-based Wealth Intelligence (WIN)
platform, end-to-end Insurance technology solutions
and post-trade automation.
For the wealth management industry, Contemi Wealth
Intelligence (WIN) offers a suite of fully integrated front,
middle and back office solutions: Client Onboarding
and Lifecycle Management, Client Portal, Portfolio
Management, Trading & Order Management, Fees &
Invoicing, Performance Measurement, Analytics and
Reporting, Custody & Settlement, Corporate Actions
Management and Banking & Cash Management.
The integrated Wealth Intelligence system provides
investment and wealth managers all the tools they
need to service and retain existing clients, remaining
compliant during a time of significant regulatory
change, whist facilitating significant improvements in
efficiency, supporting their growth, and allowing them
to ‘do more with less’.
Thought leader
Key business facts:
Founded
2001
HQ Address
11 New Bridge Road
#03-01
Singapore 059383
Company Size
200-500 employees
Website
www.contemi.com
Regional Presence
Asia, Eastern Europe,
Middle East,
Western Europe
A TWM Insight Report
William Rouse, Director, Europe – Contemi Solutions
William is solely responsible for new business
development in both the UK and European territories.
With the assistance of the solutions consultancy team
his key focus is developing commercial and strategic
partnerships across a multitude of areas within the
financial services industry.
He visualises his goal as enhancing the way that financial
services firms connect with their clients as well as
helping them become more efficient, transparent, and
dependable. With a proven ability to understand clients'
needs and focus on building relationships for the longer
term, William began his career in the financial services
sector in October 2008 as a stockbroker. Since then,
William has progressed through and held numerous
roles within the asset management and banking space
with a keen interest in wealth management.
Email: william.rouse@contemi.com
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5. A TWM Insight Report
*Q&A William Rouse
Challenges:Whatdoyouseeasthemaintechnology
and technology-related challenges for the wealth
management sector through 2021?
We, along with our clients, prospects, and market peers,
believe there are several technological challenges facing
the industry. But the availability of the appropriate
technology, as well as the associated costs, doesn’t rank
as highly as you’d think- even during these tumultuous
times. For now, we will focus on the five key challenges
that we have observed and are hearing from the wealth
management community:
1. Legacy technology transformation woes
We have seen that most organisations understand the
need for digital transformation but despite the intent
and obvious requirement, they find it incredibly difficult.
Common themes tend to be around prioritisation,
implementation and resource planning, as well as
building a feasible business case for change and the
associated organisational focus shift. Most importantly
however is the identification of specific functions that
require further enhancement or outsourcing.
2. Lack of clarity between evolving digital priorities
We have noticed that many firms find it challenging
to prioritise on a continual basis and strike a delicate
balance between often conflicting requirements amongst
multiple areas within the business.
3. Selecting the right technology partner
The majority of wealth management firms have long
acknowledged their struggle to select a technology
partner that can support their business through
technology change. Part of this issue is finding the right
organisation that they trust enough to manage such a
crucial component of the overall operation. Firms need
to invest time and effort into a diligent vendor-selection
process that holistically considers the most important
functional, technical, and commercial aspects of a
potential partnership.
4. Lack of integration
Integrating the latest technology solutions with aging
legacy systems is a huge burden and even bigger risk. A
typical result of this is information fragmentation across
disparate systems, meaning different departments in
the firm cannot freely access the data they need across
key functional areas, such as onboarding, compliance,
reporting etc. The use of multiple systems throughout
the lifecycle is costly, timely and more importantly, can
increase operational risk.
5. Transformation is undervalued
When engaging with clients, prospects, and other
market participants, we notice that they continue to
be overwhelmed with the pace of change within the
industry and in turn, still tend to overlook technology.
One potentially troublesome observation that we have
made is that some companies risk adopting a digital
strategy on the surface. They make the necessary
changes to give clients the impression of a business
ideally positioned for the digital age but underneath
the bonnet and at the very core the use of aging
platforms and the decision to ignore or downplay the
need for core modernisation is still prevalent.
Clearly, the remedy is to initially evaluate digital
opportunities worth pursuing and their impact in
the short, medium, and long term. Then consider the
impact on the resources required when delivering the
aforementioned solution(s). The most obvious but
sometimes overlooked step is to choose a partner that
will grow alongside you through the alignment of
interests as well as reduction of conflicts of interests.
Other important traits to consider take the shape of a
thorough and ongoing understanding and knowledge
bank for relevant regulatory requirements, as well as a
track record of successfully delivering solutions to the
market.
Opportunities: What do you see as the main
technology and technology-related opportunities
for the wealth management sector through 2021?
From our standpoint and as a leading fintech provider,
we see the rapid and ongoing need for firms to inject
flexibility into their client interactions as well as day to
day operations as an obvious opportunity during the
current climate. The ever-growing need to embrace
innovation in technology will always provide exciting
opportunities for the wealth management community,
this speaks for all areas of the operation, such as;
• Leveraging Data
Since wealth management is a data-rich domain,
technology can be leveraged to draw valuable insights
by collecting, storing, and analysing the reems of
data available. Wealth managers can benefit from
technology solutions like analytics, and other efficient
digital tools and platforms to extend their reach, fine-
tune their communication strategy, create tailored
experiences, and differentiate the offerings for their
clients.
• Streamlining workflows
Advisors struggle with a number of applications on a
daily basis, compliance teams spend hours and days
on manual processes, and clients expect to have ‘on
...
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6. the go’ access to everything they need; technology
provides managers with the opportunity to modernise
and streamline these workflows. There are innovative
solutions for all such issues, for example, onboarding
system for digital applications, identity verification
and compliance checks, client portal and apps for
enhanced client touch points and intuitive reporting.
• Hyper-personalised digital engagement
Technology provides wealth managers with an array
of opportunities to spend more time enhancing their
overall client service and less time on some of the more
mundane tasks that fall under the firm’s regulatory and
legal statutory obligations. Firms willing to invest wisely
into technology to enhance the overall experience
both from a client and internal user experience will
benefit greatly in the longer term. Investing in these
areas as well as data analytics tools and AI will instantly
empower firms and enable the provision of clearer,
better informed insights into a client’s wealth universe.
• Self-service/client empowerment
The personal connection between manager and client
has always been of key strategic importance to wealth
management firms. Fast forward to the present day
and the only real change that we have noticed is the
demand for greater transparency, enhanced service
levels, as well as more tools and intuitive means of a
truly tailored client experience. Whilst the one-on-one
relationship is still incredibly important; most clients
want fast and convenient self-service options via the
digital devices of their choice. Technology empowers
managers to give their clients that bespoke service
offering with the enhanced tools to meet their every
evolving demands.
Being a leading technology provider, we’re ideally
positioned to help wealth management firms ensure
the best possible solution for their clients, this is achieved
througharobust,agileandever-evolvingproductoffering
in line with a meticulously planned, client led product
road map. With the right partner, wealth management
firms will be ideally positioned to successfully leverage
the opportunities that the digital era can offer.
Client Focus: When considering your wealth
management clients and prospects, where
are they currently focusing their technology
investments and resources: clients, advisers/staff
or their business infrastructure?
Given some of the conversations that we have had
over the last 6-12 months the recurring themes would
suggest that firms are focused on all three areas. The
front runner however would most definitely sit within
the front office function, particularly around client
onboarding, client lifecycle management and greater
needs for digital client engagement. If there is one
thing that can be said about the pandemic, it’s that
it has forced the hand and fast tracked many firms'
digital strategies.
Front end
Itisnosecretthattheneedforanenhanceddigitalclient
experience is of paramount importance, especially with
so much still unknown heading into 2021. Firms need
to focus on securing as many touchpoints with their
client’s as possible and that means arming themselves
with the technological solutions and building a greater
digital presence through tools like client portal and
client onboarding. Enhancing the client experience has
never been so crucial in order to retain as well as win
new business.
Middle & Back Office
Whilst the focus is predominantly front office client
engagement based, there has also been a common
trend whereby firms are using this time to review the
operating model as a whole and that includes key
areas such as the middle and back office functions. The
age-old debate of moving to an outsourced model or
indeed simply utilising market leading technologies to
automate specific areas within the organisation, is still
very relevant and hotly contested. Being a provider that
can support both models has enabled us to capture
requirements at a granular level for a multitude of target
operating models and evolving our solution with agility
at the forefront of our longer-term product roadmap.
Cloud
There has most certainly been a shift in mindset towards
cloud-based solutions, traditionally those who operated
an 'on premise' model for cyber-security purposes are
much more open to deploying cloud solutions; largely
due to remote work mandates.
While there remains various functions and reasons to
invest in technology, in 2021, wealth managers will look
to source modular, future-proof solutions to achieve
operational efficiency and reduce cost in a timely
manner.
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*Q&A William Rouse

7. Excite: When you look at the technology
capabilities and resources now available to the
wealth management sector, as a solution provider,
what excites you most in 2021?
It is fair to say that 2020 has not been without its
challenges. One prominent theme that has been pretty
consistent throughout however is firms’ abilities to learn,
evolve, adapt and ultimately overcome whatever hurdles
have come their way. We believe that 2021 won’t be
smooth sailing for these organisations and those ideally
positioned with the right technology partner will be in a
strong position to not merely survive in this climate but
ultimately thrive. As a cloud-based, modular solutions
provider to the wealth management community, we’re
excited to see an accelerated adoption of technology
and new digital capabilities in this space, which was
long overdue.
Legacy retirement
Those who were behind the curve in their deployment
of secure and scalable cloud-based solutions pre-COVID
have experienced business continuity challenges and
are now ready to accelerate their migration to the
Cloud. We have noticed that wealth managers are
now preparing for what comes next, reviewing the
technological implications and setting priorities to
ensure that they’re agile enough to accommodate a
host of potential eventualities.
We are also seeing a significant interest in the industry
for agile technology partners and solutions that could
operate at the speed of the market and safeguard
business growth, even in times of extreme volatility.
We are excited to see agility, communication, and
integration carrying the most weight in the digital
transformation journey.
Accelerated digitisation
The pandemic has most definitely altered, or in some
instances fast tracked, technological priorities in
wealth management. Companies have accelerated
the introduction of digital collaboration tools as well
the introduction of e-signatures, digital KYC, AML, and
onboarding. Firms are still on a journey of relieving their
clients from the burden of rafts of account opening
forms and paper-based suitability documents. The
thinking has now shifted from organisational priorities
to “how do we make this easier for the client, which, in
turn, will ultimately serve to benefit firms in the longer.
Going forward, investing in technologies will be the
most obvious way to gain a competitive advantage in
the very near future and the longer term.
Data, Analytics & AI Readiness
There has most certainly been a shift in attitude
towards the true power of data (when used correctly
of course), analytics (enabling firms to use their data
to its fullest potential) and artificial intelligence. The
importance of being able to quickly analyse and then
respond to business requirements in turbulent times
is of paramount importance. We’re excited to see this
change where those who would simply react instead
of forecast are slowly but surely coming round to the
essential need to think ahead using the tools and
technologies that are readily available to them.
The future of wealth management is digital, and it is
exciting to see the industry finally embracing it going
into 2021.
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*Q&A William Rouse
...

8. Focus for 2021: As a solution provider to the wealth
management sector, what will you be doing in
2021 to help your clients and prospects meet their
main technology and technology-related business
needs?
One of the key factors that we consider and keep a close
eye on when developing our technologies is evaluating
the market trends, issues and developments. Given the
fact that this is crucial to helping our clients continue
to grow, compete, and succeed in an increasingly
more complex and competitive business environment,
and allowing them to ‘do more with less’. In 2021 that
means:
• Expanding the functionality of our next-generation
Onboarding and Client lifecycle Management System
to ensure that wealth managers cover all their business
and compliance needs on a modern and user intuitive
digital front-end, whilst digitising the key processes
between the relationship manager and his clients.
• Analytics is going to be a key focus for us too
Our award-winning analytics solution can empower
wealth managers with the necessary means to
visualise their business-critical data in a way that
is simple, intuitive and in turn, easy to digest. Data
analytics will play a huge role in wealth management
throughout 2021 and beyond whether it’s gaining
insights on current business performance, projected
future performance, individual manager or branch
performance and future forecasting or very simply
compliance monitoring, the ability to turn otherwise
complex data patterns into easily digestible forecasts
and visualizations will be a necessity.
• Further expand the capabilities of our modern
Wealth Intelligence (WIN) platform which delivers
end-to-end wealth management solutions - from
flexible customer facing services, to robust and market
leading middle and back-office solutions. We are now
in a very strong position and maintaining our healthy
lead over our competition will be our priority. We intend
to achieve this through the constant engagement with
our clients and on-going product investment.
Overall the wealth management community has
been, and is still, on a digital drive. The need for the so
called “bells and whistles” is more apparent than ever,
particularly with regards to client engagement and
client retention. Client service levels have never been
held under such scrutiny and in order for managers to
truly focus on that critical part of the operation, they
need to automate in order to truly focus on meeting
the ever-evolving needs of their clients. At Contemi, we
will continue to evolve our existing solutions to aid our
clients in achieving operational scalability, seamless
client and adviser engagement and experience in a
cost-effective manner.
Find out more about Contemi
Technology provides wealth managers with
an array of opportunity to spend more time
enhancing their overall client service and less
time on some of the more mundane tasks
that fall under the firm’s regulatory and legal
statutory obligations. Firms willing to invest
wisely into technology to enhance the overall
experience both from a client and internal
user experience will benefit greatly in the
longer term.
“
“
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A TWM Insight Report
*Q&A William Rouse