Veracen has entered into a global co-development, co-marketing and collaboration agreement with Linedata Services. The agreement coves co-development of end-to-end financial technology solutions, co-marketing, and branding globally in Europe, Asia, and the United States with global support, client customisation, wrap around services, installation, and training.
The Veracen technology solutions, powered by Linedata’s financial application platform, are designed to be a complete and fully integrated set of applications for institutional investors worldwide. These include customised portfolio management tools and analytics, incorporating a unified data set from the investment decision through to performance and risk analytics, as well as the tracking of third party managed accounts in a single unified control environment, ensuring uniformity of data and client reporting.
“Our collaboration with Veracen brings together a fully integrated solution set combining enterprise grade software with turnkey services, allowing investment firms to fully leverage the next generation operating paradigm,” says Mike de Verteuil (pictured), Head of Business Development at Linedata.
“Our combined offering creates a complete front-to-back platform integrating all applications required by a large asset manager, at a significantly lower cost and in a package that can be deployed with complete agility and transparency. The utilisation of a single data set is truly groundbreaking – historically, clients have been severely encumbered with numerous costly legacy systems that do not allow full data management or transparency of trading, portfolio management, client performance, risk management, and reporting.”
The Veracen solution utilises one unified dataset that can be archived historically, is designed to be multi-asset class, including alternative strategies, and allows each user full visibility into portfolio analytics, risk, and attribution, as well as many other features.
“Today’s announcement represents a tectonic shift in technology for the asset management industry, reducing overall cost structure and enhancing global data management,” says de Verteuil. “Today, asset managers are subject to tremendous fee pressure; our solution alleviates these pressures by solving a number of costly legacy problems within a single framework.”
Michael Kennedy, Chief Executive Officer of Veracen, says: “Today’s announcement is the culmination of many years of research, investment, and development conducted by both Linedata and Veracen. We believe the depth and breadth of our combined financial technology solution is truly unmatched. The demand in the global investment industry, particularly among large asset managers, has been extraordinary, and we are currently in discussions with numerous sovereign wealth funds, hedge funds, asset managers, mutual fund companies, and technology providers globally.
“The combined Veracen Linedata platform provides a strong solution for large asset managers, such as sovereign wealth funds and pension funds that have underlying beneficiaries with a choice of investment strategies. Our platform provides an elegant and efficient technology solution to this challenge, allowing administrators to seamlessly apply investment strategies across millions of beneficiaries with enhanced tools and lower costs; thereby eliminating numerous legacy systems and inefficient separate databases.
“We are confident that institutional investors will be impressed by the agility and scalability of the intuitive applications offered – allowing them to improve their operational efficiency and improve information availability and control, while benefiting significantly from overall cost savings.”
