Empaxis, a leading provider of operations outsourcing services and solutions for investment managers in North America, Europe, and Asia, has selected InvestCloud, Inc. to launch a new Turnkey Asset Manager Platform, TAMP1.
The India-based outsourcing services provider chose the app developer to build the fully-outsourced solution that takes away operational burdens and alleviates costs associated with hosting and data center fees, allowing managers to focus on delivering value-add services and increasing their bottom line.
TAMP1 combines InvestCloud’s digital apps, including client portals, advisor portals, digital onboarding, digital advice (select and robo), goals-based financial planning, Open CRM, portfolio accounting, billing and reconciliation, etc.) and Empaxis’ back office TAMP to act as the services arm.
Asset managers within the global trading industry, especially the smaller ones, have faced increased competition and even greater fee compression, which force them to cut back on operational costs while increasing the quality of service. Empaxis’ TAMP addresses those issues after a seamless deployment, with implementation time cut down to a matter of weeks rather than the year-long timelines of traditional migrations. Empaxis’ clients will be able to maintain all of their historical data after the migration, thanks to InvestCloud’s Digital Warehouse.
Stephen Van de Wetering, Founder and CEO of Empaxis, said: “Increased competition and fee compression have been hitting many mid-market asset managers for years. The obvious answer lies in cutting the back-office – an area that drains revenue and adds nothing to how managers can make money. TAMP services provide an easy way to stem the flow of these back-office costs and redirect the workforce to tasks that deliver real value. But market consolidation by some of the larger TAMP service providers means that many smaller managers are no longer getting the value they need from their TAMP – and are having to pay a higher price for it. Our partnership with InvestCloud in the development of TAMP1 means that we can seamlessly deliver a fully-outsourced back-office that can scale directly in line with requirements. It is significantly more efficient for smaller managers and integrates seamlessly with the InvestCloud platform.”
John Wise, Co-founder, CEO and Chairman at InvestCloud, added: “With TAMP1, Empaxis will deliver a new level of value for smaller asset managers looking to outsource. It is delivered within weeks and leverages the InvestCloud App Store. It works in real time and is completely scalable to fit business needs. There is a real benefit for asset managers using TAMP1 versus the traditional players as TAMP1 is totally digital and can address many clients’ needs without the high costs of traditional development. TAMP service providers all too often are “old think” – they rely on legacy technology, where they keep reselling the same product to as many as possible, without much concern for individual needs. They fail to integrate with the latest technology and therefore create terrible user experiences. TAMP1 is a ‘new think’ in this space – a game changer for small managers and the industry at large.”
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