Fenergo achieved “unicorn status,” says Marc Murphy, president and CEO of the KYC and client management software solutions vendor, because it’s been acquired by private equity firms Astorg and Bridgepoint via a definitive agreement they signed with venture capitalist firm Insight Partners, which owned the Dublin-based provider. Several media outlets have reported a wide range… Read More >>
Nasdaq Bolsters Its Crime-Fighting Line-Up
Nasdaq Inc. is acquiring Verafin, based in Canada, and its set of related “anti-financial crime management products.” These related products use “data analytics, machine learning, and visualization and investigation tools.” The Nasdaq platform itself is widely known as the first electronic exchange, and the goal of this acquisition, according to a statement, is to deploy… Read More >>
Ops Spends Too Much Time On Exceptions: Q&A
(Todd Sloan, business development, senior vice president, Electra Information Systems, took time out of his schedule to give FTF News a progress report on Electra Information Systems. The provider of reconciliation and other post-trade solutions, Electra is the winner of the 2020 FTF News Technology Innovation award for “Best Reconciliation Solution” for the fifth consecutive… Read More >>
Fidessa Puts Temenos Marriage in Limbo
The pending marriage between Fidessa and Temenos, announced in late February, has been put on hold in the wake of two eleventh hour suitors, reports Fidessa Group officials. The two unidentified offers have caused the Fidessa board to put off a shareholder vote on the Temenos offer, which was slated for April 5. In a… Read More >>
DDJ Bolsters Ops via Cloud Version of Portia
Firm Gains Time, Ops Advantages via SS&C Hosting Investment manager DDJ Capital Management has signed on to use the hosted, software-as-a-service (SaaS) version of the venerable Portia system to outsource the creation, maintenance and control of overnight workflows and batch jobs, say officials at SS&C Technologies, the financial IT conglomerate that owns Portia. The SaaS… Read More >>
Buy Side Finds New Love for Public Clouds, Big Data
Buy-side firms once reluctant to embrace cloud computing are apparently changing course as two-thirds of those responding to a recent survey intend to use the services of public cloud providers over the next five years. The survey and research from Boston-based Sapient Consulting also focuses on other emerging technologies that are disrupting how the buy… Read More >>
Time to Closely Vet Your SaaS Counterparties
(Editor’s note: Industry veteran John O’Hara is the CEO and co-founder of Taskize, a provider of smart directory and intelligent technology offerings, intended to enhance middle-and back-office control, efficiency and risk management. FTF News spoke to him about software-as-a-service (SaaS) solutions and the vulnerable digital footprints that end-users can leave behind. If not protected, the… Read More >>
New Platform to Help Santander Manage Op Risk of Third Parties
Santander U.K. will be using a system from compliance solutions vendor Opus Global to help the bank address the regulatory, operational and reputational risk posed by third-party interactions Bank officials will be using the Hiperos 3PM platform from Opus, which intend to replace the review of third parties manually via spreadsheets. The Hiperos 3PM focuses… Read More >>
SGBT to Implement Duco Cube’s Hosted Services
Societe Generale Bank & Trust (SGBT) will be using a data management platform from Duco to automate securities, cash and internal system-to-system reconciliations processes, according to bank and vendor officials. SGBT, a Luxembourg-based subsidiary of Societe Generale, will be using the Duco Cube hosted platform “to control complex data using light-touch, self-service technology,” according to… Read More >>
LiquidityBook Lands Three Hedge Funds for POEMS
New LiquidityBook Clients Went Live in December LiquidityBook, a software-as-a-service (SaaS) fintech vendor, reports that three San Francisco-based hedge funds — Pier 88 Investment Partners, Zeo Capital Advisors and Solstein Capital — have signed on as new clients for the SaaS-based LBX Buyside POEMS (portfolio, order and execution management system). By late last year,… Read More >>
