Wealth and Asset Management using Codeless Architecture
In Wealth and Asset Management (WAM), strategies that bring success should be reflected upon. It is important not to rest on one’s laurels, but to continue building upon these strategies and planning new approaches as well for a potentially changing environment. The economic landscape is inherently volatile, the timing is what is always hardest to predict. For that reason, businesses in the industry need to be agile; able to pivot and adapt at a moment’s notice. Low code | No code technology such as that offered by SEAD provides the necessary agility that WAM companies are looking for.
In certain respects, the new highly digital business climate has left some legacy institutions on their heels. Companies born after the digital revolution possess the technological advantage in the sense that they do not need to integrate their platforms, they started that way. Legacy institutions have been left with the task of integrating their huge, robust systems or they risk seeding ground to the competition. This can seem overwhelming especially considering the amount of data being dealt with when it comes to a business that is decades old, sometimes even centuries. There is no better avenue to achieving this goal than a low code | no code solution.
Going the traditional development route can produce problems. Revamping an entire system is never easy. When the old technology and new technology do not coalesce, there can be disastrous results. Not to mention, with a project so ambitious there is no room for miscommunication. When executives and developers are not on the same page, the success rate plummets. Since low code | no code platforms remove the high-level complexity of coding language such as SQL or Python, it opens the door for greater understanding from the non-development side of things. Executives and employees can better convey their desires, and developers can take this feedback and come back with the exact changes that have been requested. The complex code is still there in the background, but the user interface SEAD provides through our Codeless Architecture cuts through that complexity. What the end user sees is easy to understand and, more importantly, easy to use.
When you consider the fact that many WAM players are institutions with immense infrastructure, they fall into the category of prime candidates for Codeless Architecture. Additionally, security and retention of historical data is paramount for these organizations. What SEAD provides ensures that all historical data is seamlessly imported to the new technology infrastructure and that it is secured at the highest level. WAM businesses should consider taking this route in order to keep up with the constantly evolving technological paradigm.
