In other news, Broadridge readies new analytics for asset managers, Northern Trust works with Novata, and Fireblocks hires two major crypto players.
SS&C Offers CRM via Managed Services
SS&C Technologies has integrated a customer relationship management (CRM) module into the SS&C Black Diamond Wealth Platform that offers managed services that are intended to reduce IT maintenance burdens, officials say.
The Black Diamond CRM module “complements SS&C’s existing CRM solutions, Salentica Elements and Salentica Engage,” and will provide a transition to enhanced customization capabilities, according to SS&C.
Some of the key features of the Black Diamond CRM module include:
- InTouch: “Empowering advisors to engage with clients at the right moment, tracking and creating last and next client touchpoints, including emails, calls, and client review activities;”
- Account Opening: “Supporting both single and multi-custodial workflows, account opening integrations save advisors time and enable them to deliver a better client experience;”
- Time & Expense: “Enabling advisors to gain insights into time and resource allocations, facilitating assessment of the investment in client relationships, all with automated efficiency and profitability tracking;” and
- Workflow Manager: “A comprehensive module streamlining and automating business processes efficiently through dynamic templates, approvals, checklists, and task management orchestration;”
- Robust Email Integration: “A native in-email app that bridges the gap between CRM and major email solutions, such as Outlook and Gmail, eliminating manual data transfers and synchronizing contacts, events, and tasks;” and
- Pre-built Integrations: “Access to a curated catalog of custodial and advisor technology integrations, simplifying and automating the tech stack with support from Black Diamond’s CRM experts.”
Broadridge Launches A.I.-based Analytics for Asset Managers
Post-trade systems and services provider Broadridge Financial Solutions has launched analytics offerings that use artificial intelligence (A.I.) to help asset managers optimize distribution, product development, and sales and marketing, officials say.
The new offerings are DistributionAI and Global Demand Model.
The DistributionAI digital analyst tool offered “within Broadridge’s Distribution Insight platform, which provides access to unique and proprietary global asset management market intelligence and research reports,” officials say. “DistributionAI enables natural language interrogation of thousands of specialist proprietary research documents focused on the themes and trends defining success in the global asset management industry.”
The new Global Demand Model “measures and analyzes demand for asset management products” and “tracks over $100 trillion of global assets and delivers a total market view of demand, driven by proprietary data across public and private markets, and retail and institutional channels,” according to SS&C officials.
Global Demand Model employs A.I.-driven models to “understand the relationship between asset flows and thousands of predictive capital market and macroeconomic features, married with human in the loop (HITL) systems from Broadridge’s team of global experts. The result equips asset managers with more confidence in the analysis of current and future product demand,” officials say.
Northern Trust Clients Get Access to Novata ESG Data Solution
Custodian Northern Trust will make available to its asset servicing clients an environmental, social, and governance (ESG) data management software solution from Novata, following a strategic investment in the company, officials say.
“The addition of Novata’s data management solution is an extension of Northern Trust’s Whole Office strategy that will provide asset owners a clearer view of the ESG impact of private companies on investment portfolios and simplify the ESG data collection process for investors and portfolio companies,” according to the announcement.
The Northern Trust Whole Office effort is intended to ease “client access to new technologies, services, and solutions across the investment lifecycle,” officials add.
“In April 2023, Northern Trust participated in the Series B funding round for Novata, a certified B Corporation and technology platform that was founded as a public benefit corporation by a unique consortium of non-profit and for-profit organizations,” according to Northern Trust.
“Novata offers the technology and expertise to streamline and simplify ESG data management for the private markets. The platform provides clear definitions, guidance for tools for calculating ESG metrics, hands-on support from ESG experts, and market-leading benchmarking and analytics to easily review data in context and compare to industry peers,” officials add.
The Novata metric library has “more than 800 metrics that align to widely accepted standards and frameworks … Key metrics offered and tracked by the Novata platform cover environmental categories such as greenhouse gas (GHG) emissions, renewable energy use, and water/wastewater management; social categories such as employee engagement, diversity & inclusion, and data security; and governance factors such as board diversity, business ethics, corruption and bribery, and systemic risk management,” officials say.
The Novata platform also offers a customized ESG reporting approach.
Fireblocks Hires Ex-Crypto Regulator & a Cryptographer
Fireblocks, maker of an enterprise platform for digital asset operations, has hired Peter Marton, the former deputy superintendent of virtual currency at the New York State Department of Financial Services (NYDFS), and cryptographer Chaitanya Reddy Konda.
Marton, described as an authority in digital asset regulation, joins Fireblocks as director of digital identity, and will report directly to Jason Allegrante, the chief legal and compliance officer for Fireblocks, officials say.
“Peter’s exceptional experience developing regulatory frameworks at one the world’s preeminent virtual currency units should prove invaluable as we undertake the development of on-chain identity and programmable compliance solutions that will transform the digital and financial markets and help set the standards for safety, soundness, and consumer protection,” Allegrante says in a prepared statement.
Konda, who will serve as senior technical product manager, of digital identity and privacy at Fireblocks, designed and built Nightfall, “a pioneering privacy solution for Ethereum token transfers for EY,” officials say. Konda will report to Salick Cogan, vice president of Web3 and tokenization, at Fireblocks.
Morton and Konda “will lead the company’s efforts to develop programmable blockchain-based compliance products and set international standards for on-chain identity for the digital asset industry,” officials say.
“The combination of on-chain digital identity and usage of smart contracts is the most promising way to transition global compliance standards like those adopted by regulators and the Financial Action Task Force (FATF) to the blockchain context and enable their use by thousands of businesses, from financial institutions to corporations, and Web3,” according to the announcement.
Fireblocks’s on-chain digital identity and smart contracts “are fundamental building blocks for a secure and accessible digital asset ecosystem. When a product like this is offered as part of the largest institutional digital asset transfer network, it has the potential to be transformative,” Marton says in a statement.
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