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Fund Intelligence: Confluence’s Todd Moyer On Data Strategy In A Post-SEC Modernization World


Alexandra Hamer

Alexandra Hamer

Confluence‘s President and COO Todd Moyer on how asset managers and services providers are working together to make the most of a data explosion.

Heightened regulatory oversight is a fact of life for everyone working in global financial services. While the financial crisis in 2008 spurred an array of new rules and forced an
overhaul of back-office processes, it has also prompted the industry to take a necessary second look at its data strategies.

The aftermath of the SEC’s Investment Company Reporting Modernization rules are a case in point. Under these transformational regulations, the industry is now required to report more frequently and provide better-structured, more transparent and machine-readable data. This quest by the regulator is forcing managers to carefully consider their data strategy

Data strategy leading to new services

Having jumped the hurdles and completed the requirements of the first SEC Modernization reporting dates, companies spanning the investment sector value chain are now in
reflection of how their data strategy might look like not only for their own businesses, but also for clients.

Asset managers, administrators and other service providers are now pursuing different types of data strategies. Despite this, all firms across the financial services sector ecosystem
are still faced with a similar dilemma – they are dealing with an immense and unprecedented amount of information provision which necessitates a data strategy.

Historically, both asset managers and fund administrators have used data to solve their problems and meet industry or regulatory requirements. Now they are looking at data to deliver data-driven information more affordably and frequently.

To meet these needs, firms across the financial services ecosystem are going beyond just what is required to transmit cleaner and better data to regulators, and are now working to figure out how the vast amount of information gathered and cleansed for filings can be better used internally.

Services providers themselves are focused on building their product offerings to take advantage of the data explosion. These service providers are aware that any new products will be judged on how well they empower their clients to access data, and then use that data in multiple ways across their businesses.

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