Jesper Steiness (SuisseTechPartners): Solving Asset Managers issues with FinTech
Jesper Steiness says that PMplus, the technology developed by Ms. Van Ta and her team, is one of the rare portfolio management systems on the market able to meet the complex requirements of asset managers, banks, family offices and private bankers. Interview.
Why did you join SuisseTechPartners?
I have worked with Van Ta, the founder and CEO of STP, in the days of MultiFonds, which she also created. I know very well how capable she is of building great software. When she approached me, to promote the firm and its flagship software, PMplus, I didn’t hesitate at all, as she had patiently built it over the course of seven years. PMplus is built using the latest available technologies and is fully cloud-enabled. It is a great alternative to the more-established solutions on the market that are built with older (or sometimes very old) technologies. Being able to continue dealing with financial institutions in various segments, globally, was also an important consideration of mine. Last, but not least, joining a team of enthusiastic and highly skilled IT professionals, from all over the world, also made a big difference. When meeting these individuals, before joining, I felt their eagerness to learn more about the financial industry and how to help achieve STP’s objectives, as well as their own goals. It actually reminded me of myself when starting in Bank of Bermuda (now HSBC) more than 25 years ago. Today I am fortunate enough to be in the position to share the experience I’ve gained during the past many years with these teammates.
“PMplus is a great alternative to the more-established solutions on the market that are
built with older technologies.”
How are asset managers’ needs evolving?
I believe that there are five themes on which asset managers are focusing right now. 1) They want to work with FinTech firms that use the latest available technologies, as this increases efficiency and reduces the time required to implement new requirements; it’s typically cloud-enabled i.e. can be run on different devices and is accessible everywhere. The GUI – or user experience - is modern and appealing to, especially, the younger generations. This increases staff retention. 2) Asset managers face downward pressure in fees, and newer technologies are simply cheaper to build and maintain. 3) They will deal with a wide range of financial instruments, so they require systems to cater for listed, unlisted, alternative, OTC products. 4) People-buy-from-people i.e. there’s more than ever a trust element in our industry. 5) Proven experience in building software - such as Van’s success at MultiFonds – is key. Great ideas no longer sell today: proven experience does.
How is PMplus solving these issues?
PMplus is built by industry professionals with proven track records. OMS, PMS, risk, compliance, reconciliation, accounting, reporting and performance capabilities in PMplus are already great, but are also constantly evolving, mostly driven through our constant dialogue with clients. What makes it unique is that the system can be used in full circle, front-to-back, which is necessary for banks, asset managers, wealth managers, family offices and other industry participants to remain competitive. Great financial technology is clearly a business enabler today: it creates more efficiency and allows our clients to be better than their competitors. STP with PMplus can help achieve that – both now and in the future! When demonstrating PMplus to prospects, we find they are constantly amazed by the capabilities and look-and-feel of the system, which is something that we need to leverage, so the whole market understands that PMplus is the way forward!