GoldenSource and IPC also have FinTech news.
Vestmark Targets Brokers, RIAs, Asset Managers & Banks
Wealth management technology vendor Vestmark is launching a hybrid “robo service” that blends human and automated advice delivery via robo-advice platform.
The VestmarkONE Robo Solution has been designed to help advisors who need digital support via a turnkey offering. The vendor is targeting broker/dealers, registered investment advisors (RIAs), asset managers, banks and bank trust departments, officials say.
“Today, most robo offerings are technology islands: bolt-on, digital-only advice delivery mechanisms that are disconnected from existing middle- and back-office infrastructure,” according to a Vestmark statement. “This leads to inconsistencies in the advice firms provide and inefficiencies across the organization as home offices struggle with yet another technology ecosystem.”
Vestmark says its robo solution also leverages each organization’s current suite of advisory offerings and is easily managed alongside mutual fund advisory, ETF advisory, separately managed accounts (SMAs), unified managed accounts (UMAs) and rep discretionary programs.
“We originally developed the VestmarkONE Robo Solution to provide the underlying technology for several of the industry’s largest retail institutions,” says Rob Klapprodt, president of Vestmark, in a prepared statement. “Providing the technology backbone for large financial institutions has given us a unique perspective. This gained insight enables Vestmark to incorporate learned best practices and deploy robo solutions that leverage the core competencies of advisors and institutions.”
Firms Need to Get a Better Grip on Data: GoldenSource Whitepaper
Securities firms need to get a better grasp on how data is used across the enterprise, according to a new whitepaper published by GoldenSource.
The paper takes on why firms mismanage entity data, breakdowns in internal communication and “increasing regulatory demands as major barriers,” officials say. “Not knowing why successive projects can exacerbate this issue through their impact on data landscapes or how to handle new ideas from the business about how to handle client data correctly, are other key challenges highlighted.”
One of the major problems that firms wrestle with is “different internal views on the best internal architecture or third party vendor systems to adopt in order to manage their data,” according to the report.
“Financial institutions that can’t clear their own internal quagmires can’t stay ahead of regulatory requirements and meet the demands for cost efficiencies and new business opportunities,” says Tom Stock, head of the product management function at GoldenSource, in a prepared statement. “Unfortunately, disparate data management systems continue to be an inherent factor within organizations that can only focus on solving immediate problems.”
Large firms that consistently “fail to manage entity data unnecessarily incur operational headaches and miss opportunities to gain competitive advantage,” says the report’s author Jonathan Poole, a consultant with the boutique consultancy FinReg. “C-level execs know poor entity data management leads to negative customer reactions, increased costs and regulatory reporting errors, but can’t break free of their own complex processes and fragmented internal operations,” Poole says.
The whitepaper, “Complex Client Structures and Fragmented Systems Landscapes” is available online at http://bit.ly/2e1GuRQ
IPC Extends Financial Markets Network to Connexus Extranet
IPC, a provider of voice and networking solutions for the financial markets, has extended its Financial Markets Network service portfolio to its Connexus extranet platform. The company made the announcement at the recent 2016 FIA Futures & Options Expo in Chicago.
The IPC Financial Markets Network set of offerings now includes data connectivity solutions such as the Connexus Extranet, Connexus Ethernet and Connexus WAN and voice solutions consisting of Connexus Voice and Trader Voice services, officials say. The markets network interconnects global financial centers “and allows access to more than 6,000 market participant locations across 700 cities in more than 60 countries,” officials add.
“With the rapid growth in the number and types of market participants leveraging our financial ecosystem and the increased breadth and depth of our product offerings, we deemed it essential to continue to transform our product set to leverage the Connexus platform in the market,” says Tim Carmody, vice president, global product management and engineering, financial markets network, IPC, in a statement.
“The new identity for the Connexus products in the Financial Markets Network portfolio showcases our unique ability to help institutional investors, asset managers, hedge funds, CTAs, broker-dealers and IDBs achieve their objectives by harnessing the power of one of the largest financial ecosystems in the world,” Carmody says.
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