SimCorp is smiling as it’s secured three sweet wins in the asset and investment management space with C WorldWide Asset Management, Novo Holdings and FIIG Securities. Denmark-based C WorldWide Asset Management (formerly Carnegie Asset Management) has extended its Dimension licence agreement to include Data Warehouse Manager and will be replacing its current reporting solution with SimCorp Coric’s […]
Financial services group Trustees Australia and deposit marketplace Cashwerkz have merged as they seek to tap into the cash, term deposit and fixed income investments markets. According to the duo, the new entity has access to over 30 Australian banks, and it will be able to compete well in the $2.1 trillion cash deposit market. […]
Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.
Abu Dhabi Global Market (ADGM) and KPMG are launching the first Fintech Abu Dhabi Innovation Challenge – a five-week programme for “innovative and mature start-ups across the globe”.
South African heavyweight Absa Bank has unveiled its own artificial intelligence (AI)-powered online investment platform, Virtual Investor. The self-service platform uses AI and computer algorithms to recommend a product for customers based on their financial attitudes to risk. Armien Tyer, head of Absa Investments, says: “Individuals can either invest a once-off lump sum amount or […]
The world of blockchain and Bitcoin rumbles on with patents, platforms and positives. Our latest round-up features Bank of America, Blackmoon Financial Group, and research from Cognizant. Bank of America (BofA) has filed three new patents using blockchain. On the US Patent & Trademark Office’s website it now reveals the details. Some of the patents […]
Toronto-based NextBlock Global, a new digital asset investment company, has got itself off to a good start with the closing of an “oversubscribed” $20 million financing round. Like many other start-ups, NextBlock says it’s “disruptive” – and is setting its targets on the new digital asset economy. It says these assets, like Bitcoin and Ethereum, […]
Falcon is the “first” Swiss private bank to provide blockchain asset management solutions for its clients through a new co-operation with crypto financial broker Bitcoin Suisse. The bank’s clients can exchange and hold Bitcoins via Falcon using their cash holdings. Additionally, a Bitcoin ATM has been installed in the lobby of the bank’s headquarters in […]
Broadridge Financial Solutions will acquire Spence Johnson, a provider of institutional data and intelligence, for its asset management market ambitions. With the purchase, Broadridge says its Global Market Intelligence, a platform for retail cross-border fund data and analytics, will be able to use Spence Johnson’s Money in Motion dataset that provides analytics on assets, flows […]
SimCorp has acquired a fellow wealthtech vendor, APL Italiana, for €35 million. APL Italiana specialises investment and portfolio management software for the Italian insurance market.
Wealthsimple, a Canada-based online investment management service, is coming to the UK.
Natixis Asset Management has started testing the FundsDLT blockchain-powered platform for fund managers. The FundsDLT concept, announced last December in Luxembourg, is a collaboration between Fundsquare, IT firm InTech and KPMG Luxembourg. The platform will enable asset managers to sell funds through a new distribution channel, while doing all the other usual blockchain stuff – […]
Glenmede Trust Company, a US-based investment and wealth management firm with $34 billion of assets under management, is consolidating its institutional and wealth operations on Charles River’s Investment Management Solution (IMS).
Appian, a US-based provider of low-code application platform, says it has been enlisted by Vontobel Bank “to execute its digital transformation strategy across all business divisions”.
Global funds transaction network Calastone says it has “successfully” completed the first phase of its blockchain distributed market infrastructure proof-of-concept (PoC).
Large-scale operational projects within asset management firms are notoriously ambitious, incredibly complex and extremely hard to deliver. Global system implementations are a common culprit, where often multiple applications (some legacy) are being replaced.
Asset management firm Jabre Capital Partners has chosen Broadridge’s integrated trading, portfolio management, and risk management platform to help manage its front, middle and back-office operations. Broadridge says its solution will enable Jabre to streamline and automate workflow, and help meet its pre- and post-trade compliance requirements while providing connectivity to brokers and EMS platforms. […]
Bern-based Schweizerische Mobiliar Asset Management has implemented Profidata’s Xentis investment management system for its insurance, pensions and fund management businesses. Profidata, which is also based in Switzerland, says it was a “challenging project” to roll out the system within a time frame of 17 months. Xentis replaces various legacy applications, “makes several interfaces redundant and […]
London-based investment management firm Dolfin has gone live with Profile Software’s IMSplus and Axia systems.
Fintech entrepreneurs still have a few weeks left to win financial backing from two big players in the payment space. The Center for Financial Services Innovation (CFSI) and JPMorgan Chase’s Financial Solutions Lab (FinLab) plan to award $250,000 to programs that help consumers build financial health, “with a special focus on those communities that are frequently underserved, such as older Americans, communities of color, people with disabilities and products that address the gender wealth gap.”
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
AlgoMe, a London-based start-up offering career development and job placements in asset management, has launched its beta phase. The firm says it’s “rather like a dating app in that you get to determine if the match is right for you before your data is shared”. The web and mobile-based membership community is led by CEO […]
KBC Asset Management, Belgium’s largest investment manager, is implementing a new investment book of record (IBOR) platform, Simcorp Dimension, and Axioma’s risk management engine.
Recently I have been recruiting for a senior analyst position. We have reviewed over 40 CVs for a senior analyst position, and only two have been from women.
IBM and financial services firm Northern Trust have launched the “first commercial deployment” of blockchain for the private equity market. The blockchain is based on the Hyperledger Fabric and is available for use for managing the administration of a private equity fund managed by Unigestion, a Switzerland-based asset manager with $20 billion in assets under […]
Swiss-based Vontobel Asset Management has chosen SimCorp Coric to automate its client communications and fund reporting processes. Vontobel will deploy SimCorp Coric as a hosted solution via Microsoft Azure and the agreement will see the Coric solution replace in-house manual processes as well as an existing incumbent third-party solution. Stuart Keeler, managing director of SimCorp […]
Investment management software firm Linedata has acquired Gravitas Technology Services, a provider of middle office and technology services to the asset management industry. Gravitas is based mainly in New York and Mumbai, and the deal is part of Linedata’s ambitions in North America. It follows last year’s purchase of fellow investment management software provider, Derivation. […]
BNP Paribas Securities Services has teamed up with Calypso Technology to bring to market “a full, end-to-end post-trade services offering across asset classes” for investment banks.
Sweden-based financial services group SEB has selected Simcorp Dimension as its new back office platform for transaction processing, reconciliation, settlement, accounting and derivatives processing.
Factset, a US-based provider of financial information and analytics software to the investment management industry, has completed two acquisitions. These are Vermilion Software, a client reporting and communications software specialist and Cymba Technologies, which focuses on asset and investment management software and solutions.
Drooms, a provider of virtual data rooms, has agreed a deal to acquire DealMarket with effect from 1 January 2017 to boost its service portfolio for the entire asset lifecycle. Zurich-based DealMarket has developed a cloud-based software package for private equity investors, family offices and corporate finance experts, allowing them to manage the deal flow […]
Bank of Singapore has completed the acquisition of the wealth and investment management business of Barclays in Hong Kong and Singapore. The combined entity has more than $75 billion of assets under management (AUM) and nearly 400 specialist bankers.
Fundinfo says its new cloud-based fund selection system, Digital Advisor, considers “investor’s emotional preferences” in addition to analysing active and passive funds.
The UK’s Financial Conduct Authority (FCA) says there is weak price competition in a number of areas of the asset management industry. The FCA launched the market study in November 2015 to assess whether competition is working effectively. The UK’s asset management industry is the second largest in the world, managing almost £7 trillion of […]
Redmayne-Bentley, a private client investment management firm in the UK, is implementing new client reporting software, supplied by specialist vendor Vermilion Software.
Vermilion Software, a UK-based supplier of client reporting and communications software, has been selected by active equity specialist Martin Currie. Edinburgh-based Martin Currie has chosen its client reporting suite and pitchbook facility as a means of “consolidating” its reporting and marketing materials. In addition to adopting Vermilion’s V4.0 reporting technology, Martin Currie has also purchased […]
German insurance firm Talanx and fintech developer FinLeap have founded a joint venture to provide a digital platform for independent asset managers and private banks. Under the name Elinvar, the start-up offers a white-label platform – so asset managers can offer their own brand and corporate design. The solution includes new client onboarding, automatic creation […]
UK-based wealth and investment management firm Brooks Macdonald is believed to have scrapped its plans to implement a new wealth management system. The project was underway for some time, with domestic software developer Third Financial to deliver its Tercero platform, front-to-back office, to Brooks Macdonald.
JP Morgan Chase and InvestCloud, a California-based fintech firm, are partnering to develop digital capabilities for individual investors at both the JP Morgan and Chase franchises. JP Morgan has also made an equity investment in InvestCloud, but hasn’t revealed the figures. This investment is just one part of JP Morgan’s three-year $300 million digital strategy […]
Russell Investments, a US-based asset management firm, has chosen Qumram to provide compliant digital record-keeping. Qumram, a digital interaction audit solutions provider, says it mitigates risk at Russell Investments by recording and retaining all digital interactions on the firm’s corporate website in real-time, in accordance with global regulatory requirements. Qumram says that “increasingly, regulation is […]
