PwC drives service digitisation with co-operation with Linnovate

Technology-driven services to boost operational efficiency of fund houses

Hong Kong, 12 August 2019 – PwC Hong Kong (“PwC”) has entered into a co-operation today with Linnovate Partners Holdings Limited (“Linnovate”), a fintech startup specialising in fund administration and portfolio monitoring services. Leveraging automation and technology, PwC and Linnovate aim to work together to help asset management companies in Greater China and to focus on core business functions by streamlining backend operations through digitisation.

Peter Ng, PwC Greater China Tax Leader, and Henry Lin, Founder and CEO of Linnovate, officiated at a signing ceremony held in Hong Kong today. Based in Hong Kong and with operations in Shenzhen, Beijing and Singapore, Linnovate is a fintech startup that is ISAE3402 Type II certified, providing alternative fund and portfolio services through innovative technology platforms tailored to the specific requirements of asset and fund managers.

Henry Lin says, “This announcement with one of the largest professional services firms globally is another solid step in our journey to build on our foundation in providing unique automated financial services and become a leader in new chapter of Asset Services-plus model. This co-operation will allow us to work together with PwC to better provide our Asset Services-plus model to more clients, in addition to our fast growing position in fund administration and portfolio monitoring services. PwC is the perfect partner to help us seize various asset services opportunity in the long term”.

As the advancement of technology rapidly reshapes today’s business world, institutional investors across the globe are facing a raft of new challenges, ranging from growing regulatory scrutiny and market volatility, to rising operating costs and more active fund investors’ involvement. While many fund houses in Greater China are making progress in digitising frontline customer service and experience, oftentimes the back office are not afforded the same amount of investment for digital transformation. The lack of an integrated platform across business units not only affects asset managers’ ability to access quality and timely information for effective decision-making, but also diverts resources away from their key business focuses and thereby hampering profitability and more sustainable growth in the longer run.

Peter Ng says, “Highlighting PwC’s purpose to build trust in society and solve important problems, this co-operation tackles our clients’ challenges by combining PwC’s professional services with Linnovate’s innovative technology solutions. PwC’s integrated service platform incorporates accounting systems with automation and advanced analytics, reducing dependence on manual processes in the day-to-day operations of our clients, thereby allowing them to focus on their core business functions. With innovation and technology being one of PwC’s strategic priorities, we will continue to embrace digitisation and technology-enabled solutions to create new values for businesses”.

PwC press release_Cooperation with Linnovate_HKE_12 Aug