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Fidelity partners with fintech to drive data strategy

FidelityFidelity International has partnered with investment management tech firm Finbourne to drive its global data strategy and future client servicing abilty.

Founded in 2016, Finbourne has also received investment from Fidelity International Strategic Ventures in a recent round of funding alongside a number of other undisclosed investors.

Fidelity said it will use Finbourne’s Lusid platform to help solve data and portfolio management issues faced by buy-side clients.

According to Stuart Warner, head of technology at Fidelity, the platform will complement the fund manager’s digital and cloud strategy as it focuses on core areas of “un-bundling” through the use of application programming interfaces (APIs), with a view of becoming a more “data-driven” organisation.

Lusid is a cloud-based platform using API-centric architecture designed to simplify complex data hierarchies for improved control, performance and insight. 

“In time, the platform will act as a central hub to design and create new capabilities that will seamlessly connect with fintech’s and other service providers, which will enable us to service our clients in a completely new and innovative way,” Warner said. 

Both firms have previously worked together for a number of years, said Finbourne Technology chief executive Thomas McHugh. 

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