Founded in 2010, Masttro is a privately held wealth management technology company providing an integrated platform for family office enterprises. Masttro serves both single and multi-family offices and financial services institutions across 24 countries.

Padman Perumal, CEO of Masttro Americas, asserts that the wealth management industry has evolved enormously with the help of technology, but says there’s room for growth in expedience and automation. He shares four tech trends to empower and enable family offices through their technology journey:

Data analytics – Data is truly an asset with real ROI. Data strategy, architecture and quality is a critical foundation to business. Using data in a meaningful way makes a positive impact on revenue. Your data must be high quality, and the architecture of your data must be efficient and effective. If you can’t access your data, or you have too many data tools and processes, you will have to depend on others for data, which is costly and inefficient. As well, your staff must have the skill set to mine and manage the data.

Masttro is a leader in global direct and automated data aggregation. They’ve made an extraordinary investment in developing the best proprietary data architecture, and connect directly to hundreds of custodians and banks around the world to securely capture data.

All incoming data to Masttro goes through a robust and detailed process. Data is reconciled automatically, eliminating the need for manual work.

Masttro delivers data to clients in with two strategies in mind:

1. Human brains process visual information 60,000 times faster. So Masttro makes intuitive and interactive data a visual experience by presenting the most complex information in a simple and intuitive way.
2. Masttro provides insightful and advanced analytics, so data can be sliced and diced by innumerous filters, time frames and currencies for quick decision making and planning.

Omnichannel and personalized digital experience solves for many pain points. Today most of our interaction and decision making happens through digital channels, and wealth owners expect a more personalized experience in information access and value-added services.

Masttro provides a user-friendly omnichannel experience, delivered by desktop, phone and tablet. Clients own how to receive and manage their data. As you’re building your family office, look for an intuitive interface that gives you access from anywhere. While we really can never get away from reports, find a platform that allows you hundreds of options to customize data presentation to your stakeholders.

Artificial Intelligence and machine learning has redefined the future of business and is key to scale and innovation. AI is assimilation of human intelligence in a machine that is programmed to think like humans. Machines can recognize patterns and trends in thousands of different ways, and can make predictions that humans can’t. Family offices are excited about AI, with 87% agreement that AI will be the next biggest disruptive force in global business. AI provides next-level edge on investments, predictions, and more automations within operations.

Masttro thinks of AI as a proprietary engine that can take different types of data and use natural language processing to capture attributes; then use it to populate the platform with detailed granular information to produce better analytics.

Cybersecurity and data privacy is critical and must be taken seriously. Cyberattacks remain the single largest threat facing business today. In fact, 20% family offices were hit by a cyberattack in 2019. Make sure sufficient safeguards are in place to protect your confidential information.

Get a deep understanding of issues surrounding cybersecurity, and ensure the critical nature of cybersecurity is fully embedded in the culture of your business.

Encryption standards vary a great deal by providers. Masttro offers the highest level of military grade encryption protocol that’s available. Communication portals are encrypted and only shared in the most protective manner. The data is housed in digital document vaults, and the platform is designed so even no one at Masttro can see client data. Clients own the data, and you can rest easier knowing you’ve taking the necessary precautions to prevent theft and insure privacy and confidentiality of your information.

Tony Gebely is the Chief Technology and Integration Officer at FOX with 13 years of experience in the field. At FOX, Tony has worked with senior management to develop and execute the firm's technology roadmap while collaborating with the marketing, business development and IT teams. Areas of Expertise: Technology, Cybersecurity Read More →