[Over the past two years, the pandemic environment propelled a very dramatic shift towards an advanced deployment of data, digital and fintech technology. The table stakes for asset managers to compete and work with investors/shareholders in financial services have been raised substantially. Client perception has shifted to really looking at the technology that firms are able to provide and evaluate them by the ease of use, enhanced engagement and quality of access and information their tech is designed to provide.

Because of this new industry dynamic, many asset managers are seeking help from service providers to be able to be perceived as a tech-savvy firm and drive more engagement with investors. Data and digital capabilities are an increasingly vital part of a firm’s competitive strategy. As such, they are no longer viewed as just information but can used as an opportunity to enhance the “client experience.”

The need for increased technology applications and digital operating capabilities begs the question—Where and how do you make your technology investments? Or, do you outsource the overall technology and engagement experience required through strategic partnerships?

Ultimus Fund Solutions—one of the largest independent fund administration and middle-office providers in the country—is an excellent case study of this trend in technology and how it has evolved an administrative solutions provider into a strategic technology partner. Ultimus has spent years working with their asset management/RIA clients in creating their uSUITE technology and digital platforms. In recognition, the firm has won numerous client service and administrator of the year awards from organizations like Global Custodian and Fund Intelligence. Their goal has always been to help asset managers turn their data into information they can use to strategically run their fund businesses and engage investors more effectively.

We reached out to Jason Stevens, chief technology officer, and Ian Martin, EVP, chief administration officer of Ultimus Fund Solutions. We wanted to explore how they were building a tech platform to digitally share easily consumable data and strategically partner with fund sponsor and asset manager clients. Using technology to better capture and manage data on the fly to answer challenges and capture opportunities has become a crucial capability. In a business environment of accelerating change, the ability to leverage data to pivot your firm and services becomes the greatest competitive advantage.]

Bill Hortz: What is Ultimus’ tech strategy behind your proprietary uSUITE technology platform?
Jason Stevens:
As the fund industry becomes more competitive and pressure continues to mount from a pricing and regulatory perspective, barriers to entry are at an all-time high. It has become increasingly difficult to start new funds and launch additional products—even for a tenured fund manager. Recognizing this trend, Ultimus set out to find a solution to keep those barriers down for our clients and future partners. 

We developed a concerted data and technology strategy several years ago to modernize technologies and validate that all systems would be capable in the future of adapting to the changing investment management market and fintech environment. The multi-year strategy was designed to accomplish the following:
• Eliminate menial data entry, intensive and time-consuming reconciliation, and redundant validations by moving these tasks to robotics automation.

• Reducing the risk of operating errors by instituting hard parameters, guideline thresholds, and robotics automation within our workflows where error risk is most significant and anywhere parameters can be instituted.

• Reducing our susceptibility to quickly inflating industry-wide operating costs by reducing internal operating costs through scalable processes and time-saving tech-enabled functionality.

• Implementing an exception-based process, where technology manages the manual processes allowing users to focus their time researching exceptions highlighted by said technology.

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