What's inside
The study reveals that investment in modernization falls into three distinct categories, each with different drivers, economics, and buying behaviors.
The future of technology in asset servicing
NEW RESEARCH | BBH × EY
New asset classes, rising client expectations, and rapid innovation are forcing banks to rethink how they modernize asset servicing, but the areas that need the most change are often the ones most resistant to it. Based on a survey of 80+ senior banking leaders across the US, Europe, and APAC, this report reveals where the industry is really focused.
| Net-New Capabilities | Core Growth Platforms | Business-Critical Support |
|---|---|---|
| ETFs, private & public asset reporting, digital assets - driven by client demand for new asset classes. | Custody, corporate actions, transfer agency - the engines of client relationships and fee generation. | Onboarding, account opening, KYC/AML - where regulatory risk meets operational efficiency. |
The biggest risk is not only under-investing in technology but investing in ways that increase fragmentation. Whether banks pursue incremental change, platform renewal, or partnership-led models, the end-state should be judged by how it enhances the client experience.”
What you'll learn
- Why the areas of greatest investment need are often the areas of greatest resistance to change and how leading banks are breaking the deadlock.
- How bank size and modernization maturity shape whether firms should pursue incremental upgrades, modular solutions, or platform-level change.
- What the modernization paradox means for banks considering core platform upgrades
- What opportunities lie in high growth areas such as ETFs and private markets, and how banks can overcome operational complexity to meet client demand.
- The factors re-shaping the role of asset servicers.
About the research — BBH research done in partnership with EY, drawing on interviews and survey data from 80+ senior banking leaders across the US, Europe, and APAC.
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