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SS&C Technologies: More and more banks are migrating their asset and liability management systems to the cloud

A recent SS&C Algorithmics survey (conducted by Alchemer) shows that 45% of respondents are considering migrating, or have already migrated, their Asset Liability Management (ALM) systems to the cloud. This is a major global shift from almost all in-house ALM and shows that banks and regulators are increasingly accepting the cloud for ALM risk technology.

When asked what their biggest challenges were during the transition, most respondents cited infrastructure costs, knowledge transfer between IT and the business, modeling legacy risks in silos or data sources and a unique approach. These challenges can be addressed by choosing a vendor that uses a solution as a service model that integrates the software, expertise, and infrastructure necessary to meet each customer’s needs.

The top factors cited by respondents for moving to the cloud were architectural modernization, improved return on investment (ROI), and scalability. ALM can have significant computational requirements, with banks having to project millions of products into the balance sheet over time and risk scenarios. It’s important to have a solution that takes advantage of cloud technology, which a simple lift and shift approach can’t do.

To support the transition to the cloud, SS&C Algorithmics ALM and Liquidity Risk on Cloud allow banks to use the full feature set of the award-winning solution as a service model. Banks get all the benefits of modern and flexible SS&C Algorithmics Software as a Solution (SaaS) without having to worry about the infrastructure, operation and support required, as these services are provided by SS&C.

Functional and technical support is provided by SS&C experts to ensure the solution runs smoothly, including seamless migration between versions. Leveraging the expertise of Algorithmics teams helps mitigate implementation challenges identified in the survey, including knowledge transfer (55% of respondents) and talent retention (42% of respondents).

The SS&C Algorithmics SaaS option provides all the components necessary for the secure, high performance and scalable operation of the financial risk management system. This includes providing environments, 24/7 monitoring and disaster recovery.

Functionally, SS&C customers benefit from the complete SS&C Algorithmics ALM and Liquidity Risk solution, including browser-based interfaces for configuration modeling, behavioral assumptions and scheduling, execution orchestration ad hoc and interactive reporting.

The SS&C Algorithmics ALM and Liquidity Risk solution is delivered through the SS&C Private Cloud. Where banks have existing enterprise-wide cloud initiatives, the solution is also available on other major cloud platforms, including Microsoft Azure, Amazon Web Services, and Google Cloud Platform.

For more information, contact us.

APAC, Asset Management, EMEA, Risk Management

Cloud, SS&C algorithms, ALM, liquidity


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