Globalization has led to an exponential growth in the asset management industry in the domains of sovereign funds, hedge funds and high net-worth individuals. Some of the business drivers are pension systems which are invariably shifting towards defined contribution plans. With the rise in capital markets and increased valuation complexities due to new structured products, the need for stronger portfolio risk and operational risk control is inevitable and there is tremendous pressure on cost and margins.

Recent financial crisis is affecting custodians in many areas, such as, business processes, reporting standards, regulatory compliances, technology infrastructure, etc. Since Wipro is a strategic business and technology partner for some of the largest global custodians, it tracks and understands the challenges faced and helps in the following

The current stock exchange is characterized by a truly global set-up that demands extremely rapid, accurate processing of high transaction volumes with superior customer service. With increasing competition, it's important to be innovative and optimize costs. Some of the key challenges are increased volumes and capital growth, emergence of new products, competitive revenue and cost environment, changing regulatory and compliance environment, strategic client relationships etc.

To emerge at the top, capital market and investment banking leaders need to broaden their reach to new and emerging markets, create transformational models and services for clients and drive synergies from within the organization. The evolution of the market structure, changing customer profiles and regulations are just a few of the challenges that the industry faces in these insecure times.

An effective Wealth Management service is an integration of all the services that can be provided on one single desktop, like OMS, CRM, back and front office services. Due to the increasing pressure on technology for tighter integration of operations, products and client services in a shrinking IT budget, the wealth management service providers will focus on the following areas