Citi has launched OpenAi, a specialized range of information delivery and reporting technology to support the delivery of leading solutions for Citi's alternative investment clients.
OpenAi will enable alternatives managers around the world to be more efficient, invest in a more effective manner, and help better manage operational risk.
In an environment of expanding regulatory oversight, demand for greater transparency, increasing competition and operational complexity, having access to key portfolio data and exposures across multiple counterparties, fund structures and geographies is critical.
Built on an integrated data management model, OpenAi connects clients' trading platforms seamlessly to Citi's processing systems, third-party providers, prime brokers and market data sources, and gives them direct access to operational workflow throughout the service lifecycle. With OpenAi, alternatives managers have process and data visibility along with visualization tools to view and customize data online in real time, and access through mobile devices.
"Operating an alternative asset management business today requires substantially more resources to compete than previously," said Mike Sleightholme, Global Head of Hedge Fund Services, Citi. "Citi's DNA is embedded in our services business and allowed our team to build a comprehensive solution to enable our clients to navigate this new landscape and support the delivery of operational alpha. Institutional investors today are demanding more transparency and visibility and through Citi OpenAi our clients have access to key aspects of operating an alternatives business in one web-based platform."
With over $482 billion of alternative assets under administration globally, Citi is a leading provider of investment services that help hedge fund managers ease operational and administrative burdens. Citi's full suite of solutions delivered through Citi OpenInvestor lets alternative fund managers focus on building relationships and growing their business.
OpenAi shares the benefits and features that are critical to operating in this new environment:
• Direct Access — Users connect through a single point of entry, streamlining and consolidating access to portfolios and account data, process workflow, third-party providers and market utilities.
• Flexibility — Market participants label, sort and organize data to suit specific portfolio management, investment reporting and client service needs. Solutions are tailored to help match client objectives, and scaled to grow with their businesses.
• Visibility — OpenAi gives investment, administrative, compliance and risk management teams real-time, web-based access to operational workflow, transaction status, and investor and portfolio data.
• Integrity — Information is input to and distributed from a centralized data warehouse to provide greater data integrity, help reduce operational risks, increase downstream processing efficiency and accuracy, and enhance reporting capabilities.
• Complete Connectivity — OpenAi offers agnostic and seamless connections to global providers — prime brokers, trading platforms, clearing houses, custodians and fund accountants — as well as tight integration with Citi's extensive administrative and operational resources and global banking network.