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Deloitte Asset Servicers Survey 2023

The age of transformation

Asset servicers are innovating their operating models to tackle their clients’ evolving expectations and market challenges. Discover the current state of play and the trends shaping the industry’s future.

Asset servicers are evolving

With client expectations, cost pressures and regulatory requirements climbing, asset servicers are rising to the challenge by investing in emerging technologies and streamlining their core activities. Discover the findings in our 2023 report by Deloitte.

15 asset servicers with combined assets under administration (AuA) of more than $176 trillion headquartered in six different countries across EMEA (60%) and the US (40%) contributed to the 2023 Deloitte Asset Servicers Survey

The respondents are a representative sample of the industry covering a range of organisations, including those servicing traditional and alternatives or pure alternative players

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AuA Data

Our analysis uncovered five key trends impacting the asset servicing industry: data and digitalization, innovation, operating models, alternative investments, and sustainability and ESG.

Data and digitalisation

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Data and digitalisation

  • Client expectations for further data and insights underlines need for digitalisation of current operating models.
  • Popular digitalisation efforts include developing real-time self-service reporting models and live dashboarding capabilities.
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Innovation

  • 28% of asset servicers think they are front-runners in digital innovation and 36% of respondents believing they are laggards.
  • Cloud projects are paramount, but often slowed down by regulations or group-driven directives.

Operating models

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Operating models

  • Asset Servicers look at their Operating model and identify non-core activities and move further up the value chain by offering front-to-back solutions.
  • 53% of respondents plan to review their operating model by outsourcing some operations.

Alternative investments

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Alternative investments

  • A major revenue and margin contributor.
  • 73% of respondents expect PE, RE and Debt products to drive the growth of their activities.
  • Retail investors’ appetite for these assets continues to be strong and translates in the rise of demands for Hybrid funds.

Sustainability and ESG

  • ESG requires significant and ongoing budget allocation by asset servicers. Reporting and data sourcing being the main areas of investment.
  • There is clear room for improvement in the sector’s ESG reporting capabilities, with only 62% of respondents covering principle adverse impacts (PAI).

There is clear room for improvement in the sector’s ESG reporting capabilities, with only 62% of respondents covering principle adverse impacts.

Deloitte Luxembourg

Vincent Gouverneur
Partner – EMEA Investment Management Co-Leader
vgouverneur@deloitte.lu

Xavier Zaegel
Partner – Investment Management Leader
xzaegel@deloitte.lu

Nicolas Xanthopoulos
Partner – Operations Transformation
nxanthopoulos@deloitte.lu

Deloitte United Kingdom

Tony Gaughan
Vice Chairman
EMEA IM Co-Leader
tgaughan@deloitte.co.uk

Andrew McNeill
EMEA Asset Servicing Leader
amcneill@deloitte.co.uk

Julie Farren
UK Asset Servicing Lead Consulting
juliefarren@deloitte.co.uk

Deloitte United States

Vipul Pal
Principal
vipal@deloitte.com

Michael Borawski
Principal
mborawski@deloitte.com

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