The path to innovation on the buyside is not always straight but an increasing number of technology start-ups have their sights firmly set on the asset management industry.

Take the regulatory reporting software of Erudine. It is using technology, acquired from the aerospace and defence sectors, to help banks automate compliance processes. It was one of seven businesses chosen in March by consultant Accenture's FinTech Innovation Lab in London, which supports early-stage companies with mentoring and networking opportunities.