BEST INDUSTRY COLLABORATION
Winner – Backstop Solutions (MercerInsights)
Backstop has developed a cloud-based tool to help institutional and alternative investors use their time efficiently by streamlining otherwise time-consuming tasks and enabling managers to access, share and manage critical information. In Q3 of 2019, it teamed up with Mercer to make MercerInsights, its cloud-based institutional investment data, research and ratings service, available on the Backstop platform. Backstop clients can now access research and ratings on more than 7,000 managers and 35,000 strategies. The alliance has helped asset allocators in their due diligence by creating a virtual alternative in the absence of face-to-face meetings and the advent of remote working.
Shortlisted – Milestone Group; Oracle Financial Services
BEST UTILITY SOLUTION
Winner – Calastone
Since its foundation in 2007, Calastone has developed into one of the largest funds processing networks in the world, servicing more than 2,300 clients in 44 countries and processing more than £200 billion worth of assets every month. The company’s original product, the Calastone Transaction Network, was built on a simple premise – to make it is as easy as possible for market participants to automate and digitise their funds processing and to cater for data in all in its forms rather than demanding adherence to a specific standard. Furthermore, Calastone has continued to embrace new technology and develop new products, most notably its blockchain-based Distributed Market Infrastructure. And most recently, it has turned its attention to money market funds with its Money Market Services network.
BEST IMPLEMENTATION
Winner – SS&C (St James’s Place)
In October 2019, UK-based manager wealth manager St James’s Place (SJP) completed the outsourcing of its investment administration lines to SS&C’s wealth platform, Bluedoor.
The project required SS&C to migrate the entire SJP book of business off its legacy system onto SS&C’s core systems, involving more than a million accounts representing £69 billion in assets under management, numerous services and a number of large and complex data sets.
It also involved the temporary transfer of 350 employees and the backing of a strong management team from both SS&C and SJP to ensure the right level of collaboration to drive a project of this size forward.
Shortlisted – Citi; SS&C
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