Real-time investor recordkeeping solutions provider Envision Financial Systems has shared the results of its latest survey. The company surveyed business and technology executives advancing securities processing and back-office operations.
The ‘2022 Envision Big-Think Mini Survey‘ results show that respondents indicated that seamless inter-app connectivity and artificial intelligence were the top issues they were focusing on for the future.
Respondents were asked to rate the importance of technology trends on a scale of one to five. On the scale, one was ‘unimportant’; three ‘neutral’ and 5 ‘very important’. Participants also rated their firm’s effort to pursue them on the same scale.
The survey also sought to understand respondents’ views on blockchain’s significance to their businesses. More than half (55 per cent) of the survey takers said that blockchain is important or very important. Meanwhile, only a quarter rated their firm’s efforts as moderate or significant. Just below half of those surveyed expected blockchain to transform their businesses within the next five years.
Confidence in crypto has fallen
Brian Jones, executive vice president at Envision, explained his view on the results. He said: “For all trends, respondents rated importance higher than their firms’ efforts. However, the gap between importance and effort was roughly consistent across all trends.
“So, even as they might like to be doing a bit more to keep up with all the tech trends, respondents are at least fairly comfortable with the relative allocation of their firms’ tech efforts in the different areas.
“Whereas respondents were mostly positive on blockchain, they were warier of cryptocurrencies’ relevance. We think many respondents’ sceptical view of the transformational potential of crypto may have been informed by the extreme levels of price volatility in the cryptocurrency market and lack of regulatory guidance when the survey was in the field. All the more so now, given recent events.”
Envision’s survey also questioned executives on cloud environments for investor data. The results show that respondents are currently highly focused on security. Over two-thirds of respondents explained they were most comfortable using a virtual private cloud hosted on a public cloud platform such as Azure or Amazon Web Services.
Placing investor data on a private cloud was found to be second, with half of the respondents indicating they felt comfortable with that option. Fully public clouds were the least popular option of the three. Only 20 per cent of respondents felt comfortable using them.
Image and article originally from thefintechtimes.com. Read the original article here.