3d innovations (3di), the data management product and services company, has partnered with Swiss-based fintech Banking Software Training AG (BST), to launch a new version of its Abacus Market Data inventory, which will be based on BST’s FinOffice componentry.
“Abacus, which has been around for a number of years, was starting to get a bit clunky. It didn’t have either the speed or the features that were required, especially by our managed services clients, who want to see better reporting,” says John White, CEO of 3di. “We did a bit of soul searching about whether we wanted to go down the path of investing in that technology ourselves – given that we’re not traditionally a supplier of market data expense management software – versus partnering with someone that could help us to up our game in that area.”
BST is providing the technology stack that will underpin Abacus version 4, which will both serve as a stand-alone market data inventory, as well as continue to service 3di’s managed market data clients.
Martin Reichmuth, CEO of BST, points out that the technology partnership with 3di is bi-lateral. “We are currently implementing aspects of the 3di’s Profiler vendor intelligence platform into FinOffice and looking at some of the functional components within their Data Compliance & Dependency Management (DCDM) product that we might re-use,” he says.
3di’s plan is to upgrade all Abacus clients to the new version 4 by the end of the year, says White. “We’re already in the implementation phase with all our clients,” he says. “Over time, our goal is to give them more capabilities, make it more efficient, give them better reporting, and then in time, we’ll be able to licence them more appropriately with either the same level of features and/or upgrade the feature set.”
Both parties stress that the relationship is strategic, but non-exclusive.
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