Fidelity taps Finbourne to drive data strategy

Fidelity taps Finbourne to drive data strategy

News
July 21, 2021 by J.D. Smith
29
Fidelity International has picked technology from Finbourne to drive its data strategy in a deal that also sees the asset manager make a strategic investment in the London-based startup. Fidelity made the investment through its VC arm as part of a recent funding round for Finbourne. The size of the round and other participants were
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Fidelity International has picked technology from Finbourne to drive its data strategy in a deal that also sees the asset manager make a strategic investment in the London-based startup.

Fidelity made the investment through its VC arm as part of a recent funding round for Finbourne. The size of the round and other participants were not disclosed.

Established in 2016 by a team of senior ex-UBS and Nomura bankers and investors, Finbourne’s objective is to simplify and supersede the way investment data is traditionally stored, accessed and analysed.

The firm’s Lusid platform is a cloud-native, API-centric architecture, specialising in simplifying complex data hierarchies. The firm claims the technology enables asset managers to not only ingest, aggregate and distribute data to their entire organisation, but allows for extensible calculations across functions such as risk and performance.

Stuart Warner, head, technology, Fidelity International, says: “Finbourne’s Lusid platform consolidates and accelerates our various data requirements, providing better data consistency, reduced costs and ultimately a more personalised experience for our clients.

“We see Finbourne’s platform as complementary to our digital and cloud strategy at Fidelity as we focus on our core areas of un-bundling through the use of APIs and becoming a more data-driven organisation.