Limina Insights

Financial Workflow in The Cloud

Helping Asset Managers & Hedge Funds embrace cloud services

author

Rob Correa

April, 2020

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This unique time in our history has presented a lot of challenges ranging from financial volatility, to personal life disruption, to avoiding illness, and dealing with mandatory remote working.

As we all watch everything available on Netflix, I came across a quote in a war film from Winston Churchill:

churchill

This way of thinking is what everyone needs in a time of crisis and presents an opportunity to succeed and move forward in a better way than the past. We all know the financial industry has been lagging in its ability to keep up with technology which is disrupting the marketplace. Everyone is frustrated that personal technology solutions are more advanced than the tools being used in the workplace.

Large vendors such as Microsoft, CISCO, Bloomberg, State Street, Rifinitiv, and others have all been trying to tackle the need to transform the financial workflow within buy-side firms. Alongside these large vendors new FinTech startups like OpenFin, Limina, and Magtia have joined the larger ecosystem of vendors to solve the following [4 key challenges facing asset managers & hedge funds]:

  • Market Data – transparency, licensing, and governance
  • Cyber Security – two factor authentication and zero trust frameworks
  • Regulations – financial (MIFID) and personal data protection (GDPR)
  • Openness – open APIs, standardized security identifiers, and vendor collaboration
afraid of cloud

In this whitepaper, I will discuss how a asset manager or hedge fund can tackle these 4 challenges today with a cloud services based strategy. The whitepaper covers the 4 challenges under three broad topics:

  • Don’t be afraid of cloud services – 'The New Normal'
  • Security is stronger within the cloud
  • Critical apps can reside in the cloud

Have the courage to change and remember that success is not final and failure is not fatal.