Top Takeaways from 2022 ICI Tech Summit

Delta Data attended and exhibited at the inaugural Investment Company Institute (ICI) Tech Summit in Dallas, Texas November 8-9, 2022, which explored the current and emerging technologies across all aspects of asset management while providing an excellent opportunity to connect with clients and industry partners.

The two-day conference brought together asset management professionals from all levels and some of the top minds in the industry, discussing a range of topics spanning fintech regulation, the challenges of transforming an asset management business, and the investment trends and technology shaping the fund industry.

Here are some of the top takeaways from the first-ever ICI Tech Summit:

Looking into the future means understanding the past

The conference opened by setting the stage with a look into the past and excitement for the future, illustrating an industry faced with a choice between embracing the future and getting stuck in the past.

In a session exploring innovation, start-ups, and the future, Deloitte’s Chief Futurist, Michael Bechtel outlined how the future will be shaped and described how to thrive in the face of discontinuity and disruption.

Bechtel’s main message in bridging the successes of the past with the innovative prospects of the future was to emphasize, “Simple interactions win.”

Regulators are focused on innovation too

FINRA’s Haime Workle led a keynote discussion on how regulators are using innovation hubs to foster responsible innovation and implementing technology to help do their job more effectively.

Workle stressed that innovation is happening everywhere, saying, “Innovation shouldn’t be stagnant, and you should have a function within the organization that promotes innovation.”

Industry transitioning to the public cloud

Industry utility is moving to cloud-based architecture, safely navigating the transition away from on-premises infrastructure. According to David Chayer from DTCC, the four key drivers of this industry move are speed, innovation, scalability, and resiliency.

In discussing the crucial role that the public cloud will play in future transformation and the industry’s need to embrace it, Chayer said, “Wayne Gretzky always said, ‘Skate where the puck is going to be’ if you want to be successful. The best way to do that is to move towards the public cloud.”

Blockchain debate continues to capture industry’s attention

Strong opinions from all sides of the blockchain and cryptocurrency debate were shared at the Tech Summit, reinforcing the sentiment that industry deliberation around the future of digital assets is ongoing.

Some panelists expressed their optimism about the future of this new asset class, and others emphasized the importance of imposing regulations on these exchanges and the need to support investors through smart regulation. Other panelists challenged the notion of blockchain as revolutionary technology, even going so far as to label it a scam. Even while lacking any industry consensus, the debate around digital assets and cryptocurrency continues to occupy significant space within the industry.

The fund industry remains at the cutting edge

A recurring theme in discussions surrounding the fund industry was the pivotal role that technology is playing and will continue to play in its transformation. The regulated fund industry continues to use disruption to advance the shareholder and investor experience.

Artificial intelligence and augmented reality are expected to play a big part in this transformation of the fund industry, with augmented, virtual, and extended reality shaping the workplace.

The 2022 ICI Tech Summit provided attendees with an opportunity for robust discussion on the industry trends impacting every facet of the fund industry. As a conference exhibitor, Delta Data was a featured participant in the conversation surrounding technology that’s shaping and transforming asset management business.

Learn more about how Delta Data solutions are helping Asset Managers and Fund Distributors drive efficiency and mitigate risk.