As part of a series on how custodians are evolving client-facing technology, we spoke with major players about the way in-house development and relationships with bigtech and fintech are developing.
State Street’s choice of strategy comes from client research, which showed that fewer and fewer firms want to license, install, configure, upgrade, run and maintain software. And the custodian’s acquisition of Charles River Development for $2.6 billion is part and parcel of that strategy to provide a full front to back office solution in the market, explained State Street Global Exchanges head of Product and Strategy, Bruce Feibel, who is coordinating platform development.
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