Finbourne are collaborating with HSBC Securities Services, Fidelity International, Altana Wealth and others in the asset management industry to help design and refine the features of a shared cloud-based investment management platform, LUSID.
The LUSID platform will replace existing in-house software and hardware in an effort to improve the availability and utility of information.
According to Finbourne, this will simplify user access and reduce operating and capital costs for asset managers.
Finbourne is a privately held firm founded in the UK in 2016 by a team of senior ex-UBS and Nomura bankers and investors include Thomson Reuters and Frontline Ventures.
Cian Burke, head of HSBC Securities Services, said: “We are committed to exploring emerging technologies, and their potential to drive more innovation, efficiency and security in the services we offer.”
He added: “Shared, cloud-based platforms could have huge benefit in the custody space, and we are excited to be advising on this project with other industry leaders.”
Yugo Ashida, director of architecture at Fidelity International, said: “Finbourne is building a platform from the ground-up based on collective experience which allows us to approach data challenges in a novel way.”
He added: “Being a member of the LUSID design council gives us the flexibility to test different technology, apply new thinking and put in place the foundations to reimagine our current architecture.”
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