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StatPro inks strategic partnership with US fintech firm
AIM-quoted software company StatPro has finalised a strategic partnership with US fintech firm Broadridge Financial Solutions to provide comprehensive analytics for alternative and traditional asset managers.
The newly-inked partnership was expected to enhance Broadridge's performance reporting platform, which allows clients to receive customised daily performance calculations.
StatPro's cloud-based performance and risk platform will reportedly streamline Broadridge's analytics process by automating the upload of client portfolio data into the system, generating instantaneous performance calculations and then making results available for download to the US firm's data warehouse to support its investment process and client reporting.
"StatPro firmly believes that as the asset management industry matures and competition intensifies, asset managers will turn to the best platform providers for comprehensive services," said Justin Wheatley, StatPro's chief executive.
"Broadridge has proved itself to be a leading provider in this market and we are proud to partner with them to provide their clients with our full range of portfolio analytics ranging from performance measurement to risk management tools, including complex fixed income analysis using StatPro Revolution: our super-scalable cloud-based portfolio analytics platform," Wheatley added.
Broadridge's transition to StratPro was in progress for the firm's existing performance clients and was tapped for completion by the end of 2018.
As of 1400 BST, StatPro shares had collected 0.98% to 179.74p.