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Jason Stevens, Ultimus Fund Solutions
Jason Stevens, Ultimus Fund Solutions

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Ultimus disrupting industry with advanced technology

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Ultimus Fund Solutions | Best Technology Provider – Back Office

Jason Stevens, EVP & CFO, Ultimus Fund Solutions answers the questions on the firm’s win in this year’s IAM Service Provider Awards.

As the fund industry becomes more competitive and pressure continues to mount from a pricing and regulatory perspective, it has become increasingly difficult to start new funds and launch additional products.

In recent years there has been a very dramatic shift towards an advanced deployment of data, digital, and fintech technology in the financial services industry. Because of this, many asset managers are seeking help from service providers to implement enhanced technology to be perceived as a tech-savvy firm, driving more engagement with investors and/or shareholders.

What is Ultimus’ tech strategy behind the proprietary uSUITE technology platform?

Ultimus Fund Solutions has spent years collaborating with asset management/RIA clients in developing the uSUITE technology and digital platforms. Our goal has always been to help asset managers turn data into beneficial information to strategically run their fund businesses, engage investors more effectively, and to employ technology for optimisation, scalability, and efficiencies.

Ultimus developed a concerted data and technology strategy to modernise technologies and continually adapt to the changing investment management market and fintech environment. The multi-year strategy was designed to accomplish the following:

• Systematic access to data through advanced APIs, allowing for the integration of both internal and external systems, while also providing easy access to data across all of our platforms.

• Eliminate menial data entry, intensive and time-consuming reconciliation, and redundant validations by moving these tasks to robotic process automation.

• Reducing the risk of operating errors by instituting hard parameters, guideline thresholds, and robotics automation within workflows.

• Reducing internal operating costs through scalable processes and time-saving tech-enabled functionality.

• Implementing an exception-based process with advanced user interfaces, where technology manages the manual processes allowing users to focus time on resolving highlighted exceptions.

The impact of implementing our uSUITE system has aided us in helping to keep costs low for clients, connecting to our clients’ diverse and changing fintech systems, and providing the latest technologies including direct access to real-time data for asset managers, advisers, investors and shareholders.

What other technologies are playing key parts in the development of your uSUITE tech platform and how are you employing them?

The technology platform uses Robotic Process Automation to streamline massive amounts of back-end fund data processing, eliminating the need for manual intervention. In addition to RPA, we also focused on the use of systems that operate with open Application Programming Interfaces (APIs). As an important part of our strategy, APIs allow us to move with agility together on rapidly evolving fintech. The use of API systems has impacted us in several ways:

• Empowers us to choose “best in class” vendors, knowing we can seamlessly integrate cross platform data.

• Ensures a golden copy of data in the core system without the need to secondary data warehouses,

• Allows connection with our clients’ technologies quickly and cost-effectively,

• Enables clients to use technologies of choice,

• Reduces our dependence on customized systems to support unique products, and

• Reduces the need for maintenance and support of outdated technologies interconnected with our systems.

Any other thoughts or recommendations you would like to share?

We are committed to being a strategic technology partner with our asset management and RIA clients while continuing to invest in technology. We are proud and honoured that Ultimus was presented with the Best Technology Provider – Back Office for the Institutional Asset Manager Awards this year. 

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