Do platforms ease operational burdens?

Data and reporting can be a huge headache for wealth. Citi Wealth, iCapital and Indefi on whether platforms ease the load or whether banks should build their own.

Data and reporting in private markets is an operational headache, and is only exacerbated in the wealth space where there are multiple clients invested, as opposed to big ticket institutional investors. Are platforms in this space easing the burden, or are banks better off building these tools in-house?