An Infovest StatPro implementation is giving an Italian securities services and bank payment services firm a competitive edge, and driving European interest in StatPro’s SPC solution

Infovest Consulting, part of the StatPro Group of Companies and a leading provider of investment data management, compliance, regulatory and client reporting solutions, is poised for further European growth following a successful implementation at a European market leader in securities services and bank payment services.

The organisation, which was already using StatPro Revolution, has implemented StatPro SPC to automate compliance checks for faster checks and enhanced compliance. This is in line with its focus on digitisation and innovation. The StatPro SPC solution allows the institution to run compliance checks faster and more accurately, reducing risk for both the institution and its clients. This gives it a competitive edge over banks still running manual checks.

Jason Prudhomme, SPC Compliance Consultant at StatPro, says manual checks could take several days per month, versus only a few hours using an automated solution. “In this environment, rules, data and the regulatory environment are all becoming more complex. There is no margin for human error, plus, delays in compliance checks could lead to additional risk,” he says. “Speed is crucial, as asset managers trade daily and if the market should move adversely against them and they unwittingly trade out of that breach, it could prove very costly.”

The customer selected the solution after a proof of concept run in 2018. “They wanted full fund transparency. They supplied us with their data, we ran it through the system and sent the results to them, and they were very happy with the system’s performance,” says Prudhomme.

This transparency is a core function of SPC, which offers the ability to monitor investment guidelines prescribed from any source to better achieve compliance across complex investment strategies, increased regulatory scrutiny and stringent investment guidelines.   

This is Infovest’s first client in Italy, but the company expects to see further growth in Europe following this successful implementation. 

“We now have clients in seven European countries, but we are seeing a growth in prospects thanks to this implementation,” says Prudhomme. “The European market could be very fruitful for us as the market looks for improved compliance and risk management in a competitive environment.”

Enquiries

About StatPro
StatPro Group (www.statpro.com), part of Confluence (https://confluence.com),  provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers. The Group has 10 offices in Europe, North America, South Africa and Australia, servicing 450+ clients in 37 countries. It is organized into three divisions: Revolution, Source: StatPro and Infovest.
Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.
Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division’s integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.
Infovest supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools, as well as portfolio management solutions.