Aiviq, a cloud-based SaaS business for the global asset management industry, will provide AllianceBernstein (AB) with client assets under management (AUM) and flow data management products and services, through a new deal.
This multi-year deal will see Aiviq licence its AUM and flow data management platform to AB, as well as provide several enterprise AUM and flow data sets via its managed service offering.
These services will allow AllianceBernstein, a global investment management firm with $647bn in client assets under management, to standardise a diverse range of AUM and flow data sources across its European funds business. This will support its reporting and analytics requirements across sales, marketing, client service and business management.
Speaking on the partnership, Aiviq executive director Greg Glass said, “AB’s investment in the Aiviq platform is evidence of the accelerating trend in the asset management industry to gain competitive advantage by exploiting data more creatively.
“AUM & flow data describing a client’s economic footprint is one of the most valuable and under exploited data sets in the industry. AB has created a definitive Customer Book of Record (CBOR) that can be used to support use cases across the enterprise in sales, marketing, finance, strategy and beyond. We are delighted with the partnership with AB and we look forward to collaborating closely in the years to come.”
Aiviq, which is headquartered in the UK, offers AUM flow and revenue analytics products to help clients with sales enablement, financial planning, client service, product development, risk and regulatory reporting and corporate strategy. The FinTech’s mission is to help global investment managers build data clarity and extract insightful management information.
Commenting on the partnership with Aiviq, AB’s head of EMEA Retail Honor Solomon stated the two companies share a culture of collaboration, partnership and co-innovation. With this, they have developed a “highly successful capability together.”
The Aiviq has also become a major part of AB’s global strategy to build data-driven sales capabilities, Solomon added.
AllianceBernstein head of technology and operations Mark Leedham said, “The Aiviq platform’s extensive data model, and expansive library of data quality rules, allows us to accurately map the role of key participants in the investor eco system to a given transaction or holding. This capability enables us to reconcile client AUM and ‘flow to fund’ accounting data and use sophisticated data matching techniques.”
AB offers research and diversified investment services to institutional high-net-worth and retail investors. It supports various asset classes, investment styles and geographies. These include Luxembourg domiciled global, regional and sector-specific equity funds, multi-asset alternative funds and fixed-income strategies.
In other WealthTech news, Juniper Square has collected $133m in growth capital to support its innovation and market expansion. The company helps GPs and LPs to focus on building relationships by connecting them and fostering improved communications.
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