Diligend, a cloud-based due diligence software provider built for asset allocators, and eVestment, a Nasdaq company and specialist in institutional investment data and analytics, have signed agreement under which eVestment data will be available through the Diligend platform.
Diligend offers a flexible, secure, one-to-one data exchange platform that automates the various tasks and data requests institutional investors and consultants frequently make of asset managers. The platform enables one-to-one, periodic and ad-hoc data collection efforts which can be difficult to manage as the information is often tied to individual, static documents. Diligend’s tools transform this process by providing a fully custom, digitised and automated due diligence questionnaire tool combined with a full featured workflow and analytics platform. The platform makes requesting data, distributing data requests and follow up reminders easy to manage, while also automatically flagging answers, tracking changes, and aggregating data for benchmarking.
This agreement will allow clients of both eVestment and Diligend to complete more of their due diligence process via one technology platform. The data and technology tools that will facilitate this data sharing and due diligence effort between eVestment and Diligend are set to launch in the coming months.
“Collecting and analysing Manager data and documents can be challenging and cumbersome for investors,” says Wissem Souissi, Diligend founder and CEO. “The difficulty in managing the questionnaire distribution process and performing sufficient ongoing due diligence with limited resources limits the level of oversight and increases the operational risk for investors. Diligend solves this through data centralisation and process automation. By aligning with eVestment, we’ve made the entire due diligence process more efficient and scalable.”
“Eliminating unnecessary work, risk and complexity in the due diligence process provides opportunities for better engagement between investors and asset managers and ultimately better results for the work both are doing,” says eVestment Head of Strategic Partnerships Lisa Terwilliger, “We are excited to add Diligend to our network of technology providers for our joint clients.”
