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China Banking CEO quarterly 2020 winter issue From Mckinsey

The following is the China Banking CEO quarterly 2020 winter issue From Mckinsey recommended by And this article belongs to the classification: Chinese economy, research report, Mckinsey .

Using technology and scale advantages to create value for customers

As the world’s largest asset management institution and the largest passive strategy manager, the world’s leading asset management institution focuses on five high growth markets: passive investment, factor investment, retirement and pension, alternative investment in illiquid assets, and emerging Asian markets. Taking passive investment as an example, through strategic M & A, the institution has obtained the market leading ETF investment ability, and led the global wave of passive investment through continuous development and innovation. Based on this core advantage, the company has built cross asset class and cross regional solution capabilities around key institutional customers, and LED industry innovation in frontier areas such as factor investment.

Behind the scale and innovation, science and technology is undoubtedly their core competitiveness. As the largest asset management technology platform in the world, the company is actively exploring the application of technology in investment and asset allocation capacity and risk management capacity. In addition, they also focus on data application as a breakthrough in the future.

Six successful factors of digital transformation

Success factor 1

The world’s leading end-to-end asset management platform, from internal management, system output to ecological openness

The asset management technology platform developed by the leading asset management institution based on internal risk tools has been evolving in the past 20 years, and now it has become the largest asset management technology platform in the asset management industry (see Figure 1).

The platform not only provides end-to-end asset management technology platform for institutional customers, but also provides solutions based on data and management insights, including application modules such as risk management, portfolio construction, portfolio model and scenario analysis. For example, its risk modeling and analysis module includes more than 800000 securities position information, more than 3000 risk factors, 15 years of daily market data accumulation, and thousands of transaction records in CMBS database, covering more than 500 U.S. insurance companies. It can provide customers with asset allocation and portfolio risk management services based on factor analysis.

In addition, the organization has further changed the service mode of the platform through the construction of the open platform. Its developer open platform enables institutional customers to create personalized applications on the platform according to their needs, including customer operation functions such as customer account opening and service support, portfolio establishment and maintenance; portfolio management functions such as research and analysis, report output and market monitoring; operation and efficiency functions to improve trading management and execution efficiency of traders; and data analysis model And so on.

Success factor 2

Continue to extend the ecology, from the comprehensive services of institutions to the wealth management ecology

In terms of institutional services, it is actively exploring the derivation from asset management business to asset service field, establishing asset management accounting ability, entering asset custody service, providing data management, trading and custody operation, derivative operation, regulatory report, custody operation performance evaluation and other services.

In addition to service institutions, this leading asset management institution is promoting the extension of wealth management business based on asset management technology platform to personal channels. For example, it has built a consulting platform to provide one-stop investment consulting solutions for wealth management consultants. Consultants can obtain portfolio analysis, customer communication management, investment education, portfolio construction and other solutions from the platform, timely capture market dynamics, benchmarking analysis, and generate market analysis reports that are easy for customers to understand. In addition, it also provides learning resources for investment consultants, as well as portfolio building process automation and other functions to improve the professionalism and work efficiency of wealth consultants and help them better serve customers.

Three elements of success

Leading the data application of asset management industry, enabling the improvement of investment and research capability

Leading the application of data is the development focus of the digital strategy of the organization. For example, it is exploring the acquisition and analysis of non-traditional data such as text information sentiment analysis, search data, satellite data, etc. to obtain excess return (alpha). Taking text information as an example, the agency will “read” the telephone financial report record draft by algorithm every quarter, transform unstructured text information and voice information into data form, and judge the company’s senior executives’ confidence in the future development through the emotional screening model.

Four elements of success

Quantitative analysis of enabling risk control

A leading asset management institution in the world has established an independent quantitative risk analysis functional organization to precisely monitor investment risks with sophisticated quantitative tools, covering all kinds of assets and exposures of different risk types, and six types of risks, including market risk, credit risk of counterparties, liquidity risk, financial asset valuation risk, global exposure risk and leverage risk A real-time risk monitoring system based on quantitative indicators is established.

Five elements of success

Vigorously cultivate digital talents, improve the organization of digital business

Professional talent cultivation and organizational capability improvement are the basis of digital transformation. A global leading asset management organization has invested a lot of resources to cultivate digital professionals. 27% of its global talents are scientific and technological data talents, with a total of 3700. In order to attract digital talents, the organization has also established a unique talent value proposition, established a special Tech Academy for employees, provided a learning platform for employees to improve their digital skills, and held a hacker marathon within the company to provide an open platform for employees to put innovative ideas into practice and create an innovative cultural atmosphere.

Six elements of success

Acquisition of financial technology companies to acquire core technologies and Solutions

The world’s leading asset management institution has established technological capabilities in emerging fields and expanded platform technological capabilities through acquisition. For example, through the acquisition of a bank technology service provider, it can obtain the technical ability of bank cash and liquidity management; through the acquisition of an intelligent investment consulting solution company, it can obtain the ability of serving financial consultants; and through the acquisition of a private placement and alternative service solution provider, it can obtain the ability of alternative asset system platform.

As the world’s leading independent asset management company and the most successful asset management company in the global digital transformation, the digital strategy, measures and capacity building of the asset management organization are worthy of reference for the whole track of China’s big asset management. In the past digital process, technology platform undoubtedly played a crucial role; looking forward to the future, leading the data application will be its important development direction.

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