Indata has added compliance-as-a-service to its iPM Epic big data platform that supports intelligent portfolio management for asset managers on a global scale. The service is designed to complement Indata compliance capability already on the platform and integrates complex subject matter sourced from third-party information providers. The initial offering is a global shareholder disclosure service based on legal content from aosphere, an affiliate of legal firm Allen & Overy.
The arrangement between Indata and aosphere provides the company and its iPM Epic clients with detailed legal information as well as alerts on changes to global shareholder disclosure legislation. To make best use of this information, Indata’s compliance-as-a-service team creates, adapts and tests shareholder disclosure rules for subscribers in the iPM compliance software that is used by iPM Epic clients.
David Csiki, president of Indata, explains: “Complex international regulations and rules can be issued or changed with little notice and require compliance. By leveraging best-in-class legal information from aosphere and offering this as part of a fully integrated service, we add value for our clients.”
Indata plans to integrate further specialist data services with the iPM compliance software in response to market demand, and also offers consulting services that include rule writing around complex compliance requirements.
As well as building out compliance-as-a-service, Indata continues to develop order management, compliance and portfolio management tools that can be used with either its relational database platform or with iPM Epic, which came to market in February 2014 and is deployed in the iPM cloud.
Csiki says early investments in big data technology have paid off and that the iPM Epic platform is gaining traction among global asset managers looking for greater efficiency than that provided by data warehouse and relational database technologies. Reflecting this, the company’s 2015 growth release states: “2015 was a strong year for iPM Epic deployments with significant growth from new clients and existing clients opting for the platform. iPM Epic related revenues more than doubled compared to 2014 and represented approximately 77% of 2015 revenue additions.”