19 February 2018
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InvestCloud sets up data cleansing division

12 September 2017  |  2305 views  |  0 Source: InvestCloud

InvestCloud Inc., a global FinTech firm, has partnered with Back Office Support Service (BOSS) to launch Synergy.

The new solution integrates InvestCloud’s digital platform with BOSS’s data cleansing prowess.

Synergy allows investors and managers to better leverage their custodial data by enhancing its quality - through reconciliation and data cleansing - ensuring all information is up to date and accurate. This data is then pulled into the InvestCloud digital platform, enabling investors and managers to make better decisions with better information.

InvestCloud’s latest product partnership builds on the global FinTech firm’s advanced data management capabilities. This includes the InvestCloud Digital Warehouse, which pulls together millions of pieces of content daily via InvestCloud’s Common Interface APIs and validates data quality in the process. Data types include everything from portfolio information to market data, news and social media feeds. This digital platform enables investors and managers to get a single version of the integrated truth for better decision-making.

Yaela Shamberg, Chief Product Officer at InvestCloud, said: “Financial services is underpinned by data. The need for clear, accurate and up-to-date data is more important now than ever. The industry has relied for far too long on siloed information - an issue that InvestCloud is dedicated to tackling through our Digital Warehouse. Our partnership with BOSS adds additional cloud-sourced services to the Digital Warehouse, bringing data management forward and enabling managers to do more for their clients.”

Headquartered in Southern California, BOSS has a more than 20-year history of providing back office solutions to financial services firms. Founded by a former financial advisor, Mike Kelly, BOSS works with more than 300 advisors across firms of all sizes. It specializes in supporting firms’ outsourcing needs, delivering proven data quality and industry-leading customer service.

Mike Kelly, CEO of Back Office Support Service, said: “We have a long history in providing solutions for the back office. Our partnership with InvestCloud will see us work to bring together a truly end-to-end solution for wealth and investment managers. Synergy is a whole new way of managing information from custodians that will enable a better return on investment for the client, while ensuring greater productivity, enhanced service offerings and peace of mind for advisors.”

Investors and managers will be able to purchase Synergy as a standalone function from the InvestCloud App Store, or integrated with other apps supported by InvestCloud’s Digital Platform.

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