Asset management tech startup Finbourne is collaborating with five financial institutions to help build a shared cloud-based investment management platform that can replace existing in-house software and hardware.
Established in 2016 by a team of senior ex-UBS and Nomura bankers and investors, Finbourne's objective is to simplify and supersede the way investment data is traditionally stored, accessed and analysed.
The firm has roped in five firms including Fidelity International, HSBC Securities Services and Altana Wealth - to help design and refine the features of a new utility-based data management platform, dubbed Lusid.
By way of explanation, Finbourne cites a recent report from Olive Wyman that presents a “strong case for ‘greenfield’ builds. Under this approach, technology firms, working in partnership with asset managers, could launch a platform-based offering with a core data integration and orchestration layer, combined with a strong analytics environment, and an open application programming interface (API) front-end."
Yugo Ashida, director, architecture, Fidelity International says: “Finbourne is building a platform from the ground-up based on collective experience which allows us to approach data challenges in a novel way. Being a member of the Lusid Design Council gives us the flexibility to test different technology, apply new thinking and put in place the foundations to reimagine our current architecture.”