Platinum Asset Management, an Australian based global equity manager, will upgrade its data and technology capabilities by implementing leading provider of financial software NeoXam’s integrated solutions for investment data (DataHub), performance measurement, and client reporting (Impress).
NeoXam’s data management platform will be deployed to efficiently manage all reference, market, and investment data within a single, centralised enterprise repository. This will allow Platinum Asset Management to automate and enrich its data processes and books of records – across IBOR, ABOR and PBOR – to ensure greater control and oversight over its middle-office function.
Platinum will also deploy NeoXam’s performance measurement and analytics modules for both internal (management and operations) and external (regulatory and client) reporting. Platinum Asset Management will be leveraging NeoXam’s software-as-a-service (SaaS) deployment option. This means the software is hosted and managed by NeoXam, allowing Platinum Asset Management to focus on its core business.
This deal represents another significant client milestone for NeoXam in Australia, one of the company’s key target markets in its global expansion efforts. The deal underscores growing demand for NeoXam’s comprehensive suite of solutions in the Australian market.
Commenting on the partnership, Rodney Cowled at Platinum Asset Management, said: “Platinum has chosen NeoXam to be the solution partner for our NextGen TOM (Target Operating Model), which will modernise our technology and data platform. Critically, NeoXam’s cutting-edge technology will enable us to create centralised data capabilities to service the enterprise, while retaining accountability for data operations and governance.”
Tim Versteeg, Managing Director, APAC at NeoXam, added: “We are delighted to partner with such a reputable fund manager in the Australian market. The overarching objectives of Platinum’s NextGen TOM program has been to create a scalable operating model that is aligned with industry best practices. NeoXam has engaged with Platinum Asset Management not only as the ‘modern technology’ platform provider, but also as a trusted partner, sharing our experiences in delivering solutions to asset managers in Australia and beyond.”
The partnership comes a year after leading private equity house Eurazeo completed a €100m investment in NeoXam to become its majority shareholder. The investment is supporting NeoXam in growing its data management and reporting segments, as well as expanding its international presence in Asia, Australia, Northern Europe, and North America.