InvestCloud Inc., a global FinTech firm, has been selected by The Asset Management Exchange (AMX) to build a bespoke digital solution for its growing client base of both asset owners and asset managers.
The digital interface will provide clients with a flexible, intuitive and transparent way to access and monitor some $2 billion of investments already on the exchange.
Established by Willis Towers Watson earlier this year, AMX is a global institutional asset management marketplace. It is an open architecture exchange that provides institutional investors with a transparent and cost-effective central marketplace where they can engage with asset managers in a smarter way. For asset managers, the exchange provides easy access to significant capital on a global basis. The goal is to minimise what AMX calls “value leakage” caused by industry inefficiencies in the investment supply chain.
InvestCloud will leverage its considerable digital capabilities to build an enhanced user experience for both asset owners and asset managers who are deploying and managing significant assets on the platform. The platform will support a wide range of asset types, which will be scalable in line with AMX’s growth plans.
Bill Jooste, Head of Digital at AMX, said: “AMX represents the future of institutional investing, using the power of smart technology to make investors’ and managers’ lives easier. We are changing the asset management model, and the initial response to our exchange has been incredibly strong. We needed to choose a partner that could match our vision and provide a superior and efficient experience for our clients, enabling us to not just save them money but also give them time back.”
InvestCloud will automate and consolidate a full suite of client reports online and in app form, tailored to the needs of each specific client base.
Will Bailey, EVP for Europe and Innovation at InvestCloud, said: “AMX is the perfect kind of customer for InvestCloud. Like us, they aim to transform the way asset managers do business - taking a smart approach that not only makes things easier for both asset owners and asset managers but also increases visibility and oversight of critical investment activity.
“Asset managers across the globe are at a turning point, and digital presents a fantastic opportunity to transform their business. Done right, digital creates a whole new way of doing business, building greater efficiencies for asset managers and ensuring better business practices, as well as fostering longer and happier customer relationships.”
In June, InvestCloud also announced its launch of a financial technology incubator at its London offices. The InvestCloud Innovation Center London follows the blueprint of its Los Angeles counterpart, and officially opened its doors in September 2017.