Buy-Side Technology Awards 2017: Best Outsourcing Provider—SS&C Advent
SS&C offers a platform where companies can track the progress of outsourced services like reconciliation
Al Castillo, director of solutions management at Advent Outsourcing Services, says that what his firm offers clients is its strong investment into transparency and security to give them piece of mind when sending their data to providers. “Clients are warming to outsourcing, but they know they have an obligation to their boards and regulators, so they want to keep an eye on their outsourcing providers,” Castillo says. “That’s where a lot of our focus has been—to make sure we give clients timely, transparent access to information, sharing what we’re doing and why, and we’ve found that it’s resonated really well.”
Castillo adds that the company continues to look into how it can improve its transparency to clients so that they are more comfortable with letting go of core processes and handing them over to outsourcing partners. As part of this push, SS&C has reevaluated the way it presents information around activities it manages on their behalf. Castillo says that SS&C clients should not have to reach out to ask what is being done to their data, so it offers a platform where companies can track the progress of outsourced services like reconciliation processes.
SS&C has also made investments in the past few years into its cybersecurity functionality, including upgrading its technology stack, adding a single sign on process for clients, and introducing multi-factor authentication. The company is currently in the process of meeting requirements set by the Statement of Standards for Attestation Engagements (SSAE) 18, a certification that states that it complies with its standard reporting and examination procedures. The company previously attained SSAE 16, the previous version of the guidance.
For SS&C, its outsourcing platform is not just a means of taking some activities off the hands of clients to save money. While moving non-core processes to outsourcing providers can cut costs, it can also provide better cost predictability for firms. Castillo says one of the value propositions for outsourcing is to allow financial services firms to tap into expertise they otherwise would not have access to. “Clients turn to us if they need expertise they don’t currently have—say knowledge on international books of business—when they want to expand. Often, they will need to hire more people just to get that started, but with us the ramp-up time is shortened,” Castillo says.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Technology innovator of the year (vendor)—Christy Bremner, SS&C Technologies
Christy Bremner, senior vice president, Institutional & Investment Management (I&IM) division at SS&C Technologies, wins technology innovator of the year (vendor) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: EDM professional of the year—Neslihan Yegul, S&P Global Market Intelligence
Neslihan Yegul, vice president, head of EDM and thinkFolio at S&P Global Market Intelligence, wins EDM professional of the year in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Most read
- Chris Edmonds takes the reins at ICE Fixed Income and Data Services
- Nasdaq reshuffles tech divisions post-Adenza
- Deutsche Börse democratizes data with Marketplace offering