Investment management automation is accelerating as firms increasingly rely on AI-driven testing platforms to streamline complex processes and enhance operational efficiency across applications. That’s the case for State Street Corp., which has sought to utilize UiPath Inc. to streamline operations and enhance productivity.

State Street’s Alpha platform is a front-to-back platform that utilizes a lot of different applications and services that use various different technologies, according to Maneesh Bakshi (pictured, left), senior manager of investment management at Deloitte Consulting LLP. It’s a combination of on-prem and cloud technologies coming together and is intended to give investment managers a full view of what front-to-back servicing looks like.

Deloitte Consulting’s Maneesh Bakshi and State Street’s Brandon McCormick talk with theCUBE about investment management automation.

“That’s where some of the complexity comes in, because you’re dealing with so many different applications using different technologies,” Bakshi said. “We needed a tool that helps us test extremely diligently, end-to-end, through the spectrum. And that’s where we had UiPath as our tool of choice.”

Bakshi and Brandon McCormick (right), managing director and global practice lead, Alpha Professional Services, at State Street, spoke with theCUBE Research’s Dave Vellante and host Rebecca Knight at UiPath Forward 2024, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed investment management automation and the impact of artificial intelligence on investment management strategies. (* Disclosure below.)

Ensuring success in investment management automation

When it comes to big, multi-year projects that involve hundreds of people, surprises often arise, according to McCormick. Details are slowly revealed along that process.

“My team’s responsibility, with partnerships like Deloitte and Maneesh, who leads that for us, is to make sure that the platform itself is internally tested,” he said. “We partner with our clients to make sure that they’re successful in the testing journey that they’re on.”

Companies are going through an equal experience, according to McCormick. That means that they’re having an operating model change, which is a very disruptive change.

“As a partnership, we’re co-developing the platform, and we need to make sure that we’re all successful in the testing journey,” he said.

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of UiPath Forward 2024:

(* Disclosure: UiPath Inc. and Deloitte Consulting LLP sponsored this segment of theCUBE. Neither UiPath, Deloitte, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE