OpenFinance taps Refinitiv data for private banking platform

Source: BME

Openfinance, a BME Group company specialised in developing and implementing technology solutions for financial advising and portfolio management, and Refinitiv, formerly the Financial and Risk business of Thomson Reuters, have signed a strategic partnership agreement that will give financial advisers access to information, technical analysis, news, and pioneering technology in the private banking sector to streamline their decision-making, practically in real time.

In this way, Refinitiv, which also provides news, and enables trading and investment decisions through its market insight ‘Eikon’ tool (desktop and mobile), integrates Openfinance’s ‘BestPortfolio’ solution, an innovative product that automates advising processes and provides aggregated control of all its customers’ positions, regardless of the depository institution.

Thanks to this partnership, Bestporfolio customers will have access to the Eikon platform, which enables customers of both companies in Spain and Latin America to combine the unique capabilities of analysis, market insight, information and news offered by Refinitive, with state-of-the-art technology for private banking portfolio management, developed by Openfinance.

“The agreement between Openfinance and Refinitiv makes it possible to automate the decision-making processes inherent to the digital age. It provides quality content that improves customers’ experience and decision-making ability, and helps them comply with European legislation (MIFID II and PRIIPS) on transparency in investments”, explains Jorge Tavio, Head of Market Development Europe for Partners and Digitalalisation of Refinitiv.

Moreover, ‘BestPorfolio’ is an innovative product that automates investment advice processes and generates proposals and reports. This processing speed combined with the access to updated information provided by Refinitiv creates a powerful consultation and management tool adapted to the needs of investors and managers that significantly streamline their decision making.

Alfonso Alcalá, General Manager of Openfinance, states that “this partnership with Refinitiv is key for Openfinance” and adds “it reinforces our vision of improving the experience of our customers, investors and managers by offering them scalable and strong solutions such as Best Portfolio - Eikon in Spain and Latin America”.
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