Challenge

AM faced numerous challenges with their existing data management provider, who offered a serviced solution that they sought to bring in-house for internal management. They required a flexible system that would grant teams across the organisation greater control over their data, with clearly defined data ownership and processes. The current provider’s lack of agility posed a business risk and made it difficult to maintain data quality amidst tightening budgets and increasing regulatory demands.

AM needed a centralised point for fund data and external data vendor liaison, as well as data governance controls across the business to support regulatory reporting and operational efficiency. They sought a flexible, scalable solution to collect, validate, store, and maintain a golden source of both static and dynamic data. This new system would need to standardise product data globally, monitor data quality, and distribute accurate information to external parties and clients. Additionally, the platform should interface with internal and external data providers, supporting various information transfers, bulk loading, regular reporting, and data quality monitoring.

Solution

After a thorough RFP process, AM chose Fundipedia as their preferred vendor due to its proven success in delivering trusted data strategy and architecture solutions to the asset management industry. The implementation team at Fundipedia, leveraging their extensive asset management experience and deep understanding of industry challenges, delivered the project on time and within budget. To minimise disruption and ensure ongoing business operations, the team employed a phased implementation approach, conducting continuous testing and validation throughout the process.

As a result, AM now benefits from a single, highly visible, and validated source of static and dynamic fund data. This consolidated data can be used to populate and reconcile all channels and formats, offering the transparency required by regulators, intermediaries, and clients alike. The project’s key success factors included ongoing testing, stakeholder collaboration, and seamless integration with existing systems.

The range of benefits delivered by Fundipedia for AM and its clients includes:

• Total autonomy. With flexible data models and controls, AM now has complete control over its fund data.
• User access and experience. The platform offers an intuitive and user-friendly interface, enabling every team member to access consistent product data globally and across all levels of the business.
• Upstream transparency. Using Fundipedia’s unique data sourcing tools, AM now has a direct line of sight over delivery and data quality on all dynamic data (NAV, dividend, holdings, etc.) generated from upstream third-party administrators.
• A consistent data experience. A standardised and consistent source of AM product data now exists globally and at all levels of the business.
• Compliance on autopilot. Automated data quality rules, vendor dissemination, and reconciliation checks guarantee data accuracy in situ, thus ensuring that when it is disseminated to vendors, it is accurately published.
• Reporting on demand. Powerful custom reporting functionality allows AM users with the relevant permissions to create and share reports with ease.
• Better use of resources. Automation ensures data accuracy is a given within AM without increased headcount and the associated cost. This translates into improved client service provision.
• Positioned for future growth. With a golden data source, AM has the foundation and technology to launch new products and scale up operations with the future growth of the business.
• Intelligent dissemination. Automated reporting in multiple templates and formats now fully automates reporting to third parties in their desired format.
• Actionable management information. Detailed and informative information is now available to AM around user statistics, data delivery, and data collection monitoring.
• Fully integrated. Multiple upstream and downstream systems and providers now automatically collect and deliver accurate data using open application and data integration standards.
• Automated reconciliation. Fund data is automatically reconciled with the third parties to which it is sent, such as Bloomberg, Morningstar, and FE.
• 100% secure. Fundipedia meets all of AM’s information and cybersecurity requirements.
• Future-proof. Ongoing enhancements to Fundipedia are included and continue to keep AM ahead of the curve.
• 24/7 Omnichannel support. Fundipedia’s support team is available 24/7 since go-live, responding to AM’s queries in an average time of 38 minutes.