From rising inflation to rapidly shifting investor preferences, the wealth and asset management (WAM) sector is facing unprecedented disruption. In response, a slew of WAM firms are currently adopting Unqork’s pioneering Codeless as a Service (CaaS) platform, which dramatically accelerates the development of secure, enterprise-grade digital technologies.
Ranging from a boutique Wall Street firm to global investment giants, Unqork’s new clients collectively have nearly $4 trillion under management. They join other leading investment powerhouses such as BlackRock, Goldman Sachs, and StateStreet, on Unqork’s list of WAM customers—which includes 7 of the top 10 asset management firms.
Guddu Mony, Head of Process Engineering, Asset and Wealth Management at JPMC, discusses the ways CaaS helps his organization respond to demand, develop and iterate solutions in an agile manner
How CaaS accelerates innovation
With Unqork, even less experienced developers can build—and rapidly iterate—applications in an entirely visual way, with zero code to write or manage. Built on a completely codeless architecture, the platform turns user-facing elements, back-end workflows, and integrations with systems and databases into graphic components with 100% visual UI. The Unqork platform then renders visual commands into an application on the fly.
As a result, Unqork’s platform removes many of the perennial barriers to digital transformation, from connecting disparate systems to meeting the comnplex security, compliance, and governance requirements of wealth management firms. Using traditional code, transformation efforts have often entailed risky, expensive, multi-year development projects that, by the time these are completed, have already become obsolete.
How CaaS addresses critical wealth management challenges
For wealth management firms, the risk of innovating too slowly has only grown more acute in recent years. By accelerating innovation even as it minimizes risks, CaaS is already helping wealth management firms solve some of the most critical challenges that wealth management firms face, including:
- Speeding and automating time-consuming, manual processes. With powerful, all-visual workflow capabilities and the ability to connect virtually any system, process, and data source, CaaS is helping WAM firms speed and automate manual processes, from client onboarding to case management.
- Changing client demographics and preferences. As clients become accustomed to the speed and convenience of digital processes in other areas of their lives, they increasingly expect the same from wealth and asset management firms. By quickly connecting backend systems and processes with front-end experiences, CaaS is helping WAM firms deliver consumer-grade experiences to their clients.
- Adopting emerging and best-of-breed technologies. From security and compliance concerns to sprawling and disparate ecosystems, many wealth management firms have been slow to adopt emerging and best-of-breed technologies for fear of “rocking the boat.” With Unqork’s CaaS platform, WAM firms are able to securely connect both new and existing technologies (e.g. to create truly modern advisor desktop applications) that have tipped the balance in favor of technology leaders and digital-first competitors.
- Adapting quickly to changing regulatory and compliance requirements. To expand into new markets and even to serve existing markets, wealth and asset management firms are under increasing pressure to keep up with new and evolving regulatory and compliance requirements. In addition to deeply embedded security features, Unqork's platform enanles WAM firms to quickly build new functionality or iterate existing software as requirements change. In other words, changing regulatory and compliance requirements don't have hinder innovation.
For all these reasons, a wide range of firms have joined BlackRock, Goldman Sachs, StateStreet, and other industry leaders in adopting Unqork’s Codeless as a Service platform.
Are you interested in learning how CaaS can help transform your organization? Learn more about Unqork's codeless solutions for Financial Services firms.