By Gareth Lewis –\u00a0Interest in alternative assets is growing exponentially, but this growth can be hampered by over-reliance on legacy systems. In this article, Gareth Lewis, Founder and Co-Chief Executive of Delio, explores how \u201cmiddleware-like\u201d solutions can be layered over existing systems to facilitate streamlined distribution and reporting workflows for private markets firms, helping to enhance efficiency, compliance and scalability whilst providing the framework for future growth and opportunities.<\/p>\n
The Legacy of Legacy Systems<\/strong><\/p>\n Technology in financial services tends to become dated very quickly, yet replacing it can become a Sisyphean task. Every time firms update their systems, a new wave of innovation moves the goalposts, leaving them to keep shifting the proverbial boulder up the hill. Without a clear path forward, many private market firms remain stuck using a combination of legacy point solutions and manual processes. These \u201cstacks\u201d, which have been the backbone of financial infrastructure, now struggle to keep up with modern demands.<\/p>\n The FCA highlighted that 92% of the UK\u2019s financial service companies still rely on legacy technology, and 78% of their data remains housed in on-premises infrastructure, underscoring the scale of the issue.<\/p>\n As private markets surge toward a projected $4 trillion by 2030, the need for a scalable technology infrastructure has never been clearer. Manufacturers, distributors and service providers need better digital experiences without sacrificing control over their operations.\u00a0\u00a0Read On:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"