The dilemma of middle office data management inefficiencies and hidden costs can be solved with an affordable off-the-shelf product solution, but to break the in-house patchwork legacy — a catalyst is needed.
Data management and integration have always been built and managed internally at asset management companies; but as their businesses have changed and expanded in range and complexity, which it invariably does, this automation begins to erode quite considerably.
Valuable Middle Office resources are used to shore up these automation shortfalls – uploading and downloading clunky data files, discovering a data problem too far down the line, requiring extensive manual overhead as volumes increase, adding costs and risks – all of this impacting the business.
Once built in-house, firms have never been able to maintain a high level of Middle Office automation because a budget was never allocated to it specifically – the budget would fall between stools and operational automation optimization would erode naturally over time – again, quite significantly.
Because this Middle Office function has grown organically within asset management firms with varying levels of data management automation erosion over time, and with no ‘out-of-the-box’ product solution, this function has just continued to be ‘mended’ on a reactive basis within firms but never actually solved.
Net-net strategic investment into the Middle Office in its own right has been neglected in the industry as it has fallen between departmental silos/budgets and as there has been no off-the-shelf software product solution available in this space, until now.
The IKINDI KTier™ product solution allows asset management companies to automate their operational processes with integrated reconciliations to ensure the data moves through their organization with the necessary validation, enrichment and controls needed to provide accuracy, quality and timeliness of critical data for the end-users. The IKINDI KTier gets this quality, validated data to them faster and at a much lower long-term cost for the firm than a typical in-house build that constantly needs manual intervention to keep it operational. It’s scaleable and system-agnostic. The scalability of KTier across multiple asset classes serves multiple business users.
A catalyst is a business driver that forces operational change upon businesses such as M&A activity, an operational outsourcing decision being made, or a key legacy system being sunset notably Barclays POINT.
And IKINDI’s category-making enterprise data integration product is critically timed for asset managers migrating from the sunsetting Barclays POINT to Bloomberg PORT and/or other POINT alternative/s.”
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