GlobalFintechSeries Interview with Michael Slemmer, COO at FundCount
Two quotes from Winston Churchill are very appropriate in these days and times especially given the challenges from Covid-19 and how its affecting the way businesses function; “If you’re going through hell, keep going”…and…“Never, ever ever ever ever give up!” Catch more of Michael Slemmer’s thoughts (COO at FundCount) from this short QnA.
Can you tell us a little about yourself Michael?
I’ve been working in financial tech – especially investment tech – since the mid-80s. After earning my MBA I started off in banking, but quickly realized my passion was in the burgeoning software area, as the PC was rocketing in usage. On the personal side, my wife and I have 3 kids and live in a Boston suburb. I’m an avid mountain biker and cross-country skier.
What have some of your biggest business development / fintech moments been since starting out in this journey?
Being on the ground floor of launching and then the successful growth of Thomson Financial’s PORTIA system for institutional asset managers is my biggest “moment.” We later launched great trading (OMS), performance/risk analytics systems too – all big moments. But now is another great moment – helping to take FundCount to new heights. The company was founded in 1999 but we’ve grown most significantly over the past 4 years; what used to be “the best-kept secret” in our target markets (family offices, fund administrators, hedge funds, private equity) is now recognized as an industry leader!
According to you, what are the top needs of an investment management platform that users need more of / demand more of today?
Interoperability and interconnectivity with tangential process/functions within the investing ecosystem is huge. This includes workflow/approval, payment, document management, data analysis and other areas. Also, data visualization needs have only just begun being addressed.
How according to you will innovations in investment management and wealth management platforms evolve with time?
Machine learning and artificial intelligence will make (and have started to make) all kinds of operational processes and decision-making faster, easier and better – resulting in clients that are better-served. These innovations have already made our software development process much more efficient.
Given the current challenges in the marketplace today, because of the ongoing Covid-19 pandemic, what are some of your biggest predictions for fintech in general?
While this has slowed us down – many prospects have de-prioritized system-change projects or greatly delayed decisions – we still remain very bullish about our future and fintech generally. In fact, we’re now seeing much pent-up demand via increasing in-bound leads and higher quality interactions. We think “the trend is our friend” and blue skies are coming our way!
Would you like to share specific finance management or business tips for Marketing and Sales teams struggling through this uncertain time?
This many months into the pandemic, I think most leaders of marketing and sales teams are “tipped out.” If you have a great product, a great attitude and stay the course that got you this far – you’ll be fine. Two quotes from Winston Churchill are very appropriate in these days and times, “If you’re going through hell, keep going”…and…“Never, ever ever ever ever give up.”