Outsourcing, while it has been popular with fund managers in the US and Europe for years, is a trend that has just started in Asia. But custodian banks are wasting no time in positioning for the imminent growth of back office business.
Deutsche Bank, for instance, is planning to spend up to $20 million over the next few years on upgrading its technology platform in Asia. Top on the list is a revamp of its internal data input and processing system in preparation for the new generation of SWIFT Society of Worldwide Interbank Financial Telecommunication, which aims to standardize messaging systems between intermediaries with the introduction of ISO 15022.
The impact of that...
