Broadridge Financial Solution has joined forces with Snowflake, a data cloud company. to enable asset managers to seamlessly consolidate and analyse trading and portfolio data.
Snowflake’s integrated data platform provides users with data storage, processing, and analytics solutions in the cloud.
By integrating Snowflake’s technology into its trading and portfolio management solution, Broadbridge will be able to bring together its existing data, as well as client and third-party systems, into Snowflake’s data cloud for analysis and direct access, providing a complete picture of its data.
Broadridge’s existing data solutions provide clients access to individualised self-service analytics, bespoke digital reports, and interactive dashboards.
“Data aggregation has continued to be a pain-point for asset managers,” said Eric Bernstein, President of Broadridge Asset Management Solutions. There is a strong and ever-growing need to interact with increasingly complex data sets from many sources with speed and efficiency, and our relationship with Snowflake will help our clients overcome these data challenges.”
He added, “This is a continuation of Broadridge’s data strategy and strengthens our leadership position as a technology partner that can empower data-driven results for the asset management industry.”
This month also saw Broadridge partner with global fintech OpenFin to enhance the productivity and efficiency of its trading and portfolio management solution for its asset management clients globally.
Matt Glickman, VP of Customer Product Strategy, Financial Services, at Snowflake, said “With Broadridge as a part of the Snowflake Data Cloud, asset managers will be able to work more efficiently and can have their data work harder for them, allowing for greater collaboration and better results.”
This is one of many partnerships that Snowflake has struck over the past year. In February, BlackRock leveraged Snowflakes’ platform to launch Aladdin Data Cloud, a solution for investment managers to expand the utility of data.
Meanwhile last December, State Street debuted its AlphaSM Data Platform, an end-to-end data management and warehouse solution for institutional investment and wealth managers, utilsing Snowflake as well as Microsoft Azure platforms.
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