Galilee Asset Management Selects Clearwater to Consolidate Fund Activities

Galilee Asset Management, a specialist in fund and wealth management primarily in equity and fixed income, is planning to replace in-house developed order consolidation solutions with Clearwater JUMP, a Clearwater Analytics offering designed to consolidate fund and wealth activities across the investment lifecycle.

France-based Galilee Asset Management cites a world-class user experience, platform scalability and quick implementation as reasons to select Clearwater. Expected benefits for the asset manager include a cohesive platform for all acquired entities, accurate group-level reporting and streamlined middle-office activities to increase efficiency. “In Clearwater, we have found a long-term partner allowing us to centralise our multi-entity and multi-activity business on a single platform,” says Roni Michaly, CEO at Galilee Asset Management. “Clearwater is a technological upgrade and a strategic move to consolidate our operations, drive efficiencies, and foster sustainable growth.”

Vistra and Fenergo Collaborate to Deliver Frictionless Onboarding

Vistra, a provider of business services, and Fenergo, a provider of digital solutions for know your customer (KYC), transaction monitoring and client lifecycle management (CLM), have collaborated to deliver ‘frictionless’ global onboarding for the 200,000-plus companies and funds that Vistra serves. Vistra’s Global Incorporations team will deploy Fenergo’s SaaS-based CLM product to digitally transform processes for global entity onboarding, KYC and ongoing due diligence.

Anne Dolan, head of operations for Global Incorporations at Vistra, comments: “Running a multinational business, launching a new product or fund, or expanding into new markets is never easy. Our collaboration with Fenergo means we can help our clients overcome these barriers through integrated technology and harmonised data.”

AXA XL Alternative Capital Team Selects Clearwater Analytics

AXA XL’s alternative capital team has selected Clearwater Analytics to provide strategic support for a portion of its investment portfolio. The team chose Clearwater for its proven reliability, accuracy and comprehensive ability to meet its complex accounting book of record and regulatory requirements.

“We welcome AXA XL as a Clearwater client,” says Keith Viverito, general manager of EMEA and APAC at Clearwater Analytics. “Our mission is to deliver cutting-edge solutions that simplify investment management and accounting workflows and reporting. Our solutions provide clients with investment analytics and a single source of truth for their investment portfolios across all asset classes. These solutions help clients achieve their strategic growth and investment objectives and navigate a constantly evolving regulatory landscape.”

S&P Global Market Intelligence reports accelerated adoption of GenAI

As GenAI pivots from research to product launch and monetisation, the software part of the technology is forecast to reach $52.2 billion by 2028 with a compound annual growth rate of 58% from 2023, according to S&P Global Market Intelligence. Published by 451 Research, part of S&P Global Market Intelligence, the Generative AI Market Monitor report highlights an accelerated adoption rate of GenAI technologies across various sectors that it attributes to advances in AI models capable of generating new content, including text, images and code, leading to enhanced operational efficiencies and innovative applications in business processes.

The report shows a significant upward adjustment in market revenue predictions, with 2023 estimates increasing from $3.7 billion to $5.1 billion and the 2028 forecast climbing from $36 billion to $52.2 billion between the June 2023 and March 2024 publications of the market monitor report. S&P says the acceleration can be attributed to expedited enterprise roadmaps for GenAI, an influx of new providers in the market, and intensified focus on monetisation as demands for tangible financial results rise.

Broadridge names Roz Smith as chief operating officer of international business

Broadridge Financial Solutions has named Roz Smith as chief operating officer of Broadridge International. Smith took up the post on 1 May 2024, is based in London and will work with Mike Sleightholme, president of Broadridge International, to further scale and grow Broadridge across the EMEA and Asia Pacific regions.

Smith joined Broadridge from HSBC where she spent 18 years in management roles, most recently serving as head of strategy and change management in the non-financial risk team of the bank’s markets and securities services business.

Wall Street Horizon Adds TMX Canadian Stock Coverage to Corporate Event Dataset

Wall Street Horizon, a provider of global corporate event data, has expanded its data coverage to include all common stocks traded on Toronto Stock Exchange and TSX Venture Exchange. This increases its data universe by 15%, totalling over 11,000 publicly traded companies worldwide.

Wall Street Horizon, a TMX company, offers more than 40 corporate event types including flagship earnings and dividend calendars. The extended event data coverage features small/medium cap equities and provides insight to parts of the market that previously received little exposure.

“Full TMX Canadian stock coverage for highly accurate corporate event data is essential for our buy-side clients to monitor their comprehensive watchlists, which include midcap and microcap stocks,” says Dominic Dowd, vice president, TMX Datalinx Product, Strategy & Analytics. “In a similar vein, we are actively reviewing client driven opportunities to expand our global event coverage in additional markets such as London, Hong Kong and India.”

APEX Group Renews Partnership with NeoXam

Apex Group, a global financial services provider, has renewed its partnership with NeoXam covering use of the vendor’s portfolio management solution. Apex will continue deploying NeoXam’s technology within its South African offices, underlining its value proposition as an asset servicer in the region. NeoXam will power Apex’s data infrastructure from its local office in Cape Town.

Jon Hugill, global head of open-ended product at Apex Group, says: “NeoXam’s portfolio management solution has enabled us to provide our clients with a seamless service. In addition, the company’s front-office solutions in particular have enabled us to offer an exceptional service in South Africa, a region in which we hope to expand our presence considerably over the coming months.”

Xceptor Makes Data Automation Platform Available in Microsoft Azure Marketplace

Xceptor has announced the availability of its Data Automation Platform for financial markets in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure.

“The collaboration with Microsoft to make the Xceptor platform available on the Azure Marketplace brings us closer to our clients as well as organisations that seek convenient, accessible tools to manage their data management and automation needs. This simplifies the purchasing process and expedites onboarding, allowing clients to focus on what matters and realise benefits quickly,” says Dan Reid, chief technology officer at Xceptor.

S&P Global Completes Acquisition of Visible Alpha

S&P Global has completed its acquisition of Visible Alpha, a provider of industry and segment consensus data, creating a premium offering of fundamental investment research capabilities on S&P Global Market Intelligence’s Capital IQ Pro platform.

Founded in 2015, Visible Alpha provides consensus forecast estimates, key performance indicators, and analytics from in-depth sell-side analyst models and distributes the data through a variety of distribution channels including a web-based platform, APIs and feeds. It is backed by a group of investment banks that are key contributors of research and data to the platform. Their continued contributions will continue to enhance the depth and breadth of the overall Visible Alpha and S&P Capital IQ Pro offering.

Myanmar’s AYA Bank Implements SmartStream TLM Solution

SmartStream has implemented its Transaction Lifecycle Management (TLM) Reconciliations Premium Digital Payments Control solution at AYA Bank, Myanmar’s premier banking institution. The implementation marks an advance in the bank’s digital transformation journey.

The SmartStream solution is delivered as Software-as-a-Service and streamlines tasks including reconciliations, settlement, fee computation and dispute resolution. Using AI capabilities, it facilitates rapid system adoption and comprehensive management of the bank’s transaction lifecycles. It will also add a real-time oversight layer to further improve transaction transparency and automate accounting processes, the whole enabling AYA Bank to mitigate risks and reduce operational expenses.