SalesForce – Client Surge Spurs Xenomorph to Open Boston Office
Boston Office to Serve Surge of New Clients
London-based Xenomorph Software, an enterprise data management (EDM) and analytics solutions provider, has opened an office in Boston — its second office in North America — in response to a surge of new asset management and hedge fund clients in the Boston area.
Xenomorph opened its first office in the United States in New York City in 2005.
“The Boston office will support our Massachusetts clients and the initiatives we are working on to further assist our clients to achieve their strategic objectives,” a spokesperson tells FTF News.
Xenomorph officials decline to say how many new client engagements are from the Boston/New England region. The new clients among the investment management community include traditional asset managers, hedge funds, and private equity/debt funds, officials say.
“We cannot be specific, but what we can say is that we remain excited by the interest shown in Xenomorph and the speed of the uptake in the New England area of our EDM product. We expect to be sharing further announcements soon,” the spokesperson says.
The fast implementation of the Xenomorph platform and its usage for a variety of business and regulatory-driven cases are driving demand, the spokesperson says.
The platform helps firms improve data quality, support data science teams, eliminate duplicative data requests, reduce model and operational risk, and comply with upcoming regulations such as the new SEC rules on funds’ use of derivatives and calculation of fair value for investments that lack readily available market prices, the spokesperson adds.
Xenomorph has supported the clients in Massachusetts from NYC, “but as we continue to service a growing list of asset managers and hedge funds with our on-premise, hosted and managed service solutions, we felt the time was right to open doors in Boston.” says Naj Alavi, president, Xenomorph Software, Inc., in a prepared statement. Alavi is overseeing the expansion.
“Our approach is to not be prescriptive but work with clients to configure the Xenomorph EDM platform to the cloud provider of their choice,” the spokesperson says.
The new office will not result in layoffs for the New York staff. “No, there will not be any changes to Xenomorph’s New York offices,” the spokesperson says.
Nikko Asset Management to Deploy GoldenSource’s Nexus
GoldenSource, a provider of enterprise data management (EDM) and master data management processes, reports that Nikko Asset Management will deploy its Nexus investment data management platform.
Headquartered in Tokyo, Nikko expects that GoldenSource’s Nexus will enable it to “gain operational efficiencies and focus on growing the business,” according to a statement.
Based in Asia since 1959, the firm represents “nearly 200” investment professionals and more than 30 nationalities across 11 countries, Nikko says.
“More than 400 banks, brokers, financial advisors and life insurance companies around the world distribute the company’s products,” per Nikko.
GoldenSource provides “software, services and expertise” to financial services firms for the management of risks, compliance with regulatory requirements, and middle- and back-office control costs, per the vendor. Its “automated, enterprise-level processing” is available via a hosted or on-premises platform, GoldenSource adds.
Fenergo Offers Onboarding for Salesforce AppExchange
Vendor Fenergo reports that it is launching know-your-customer (KYC) and sales-force onboarding support for Salesforce AppExchange.
The app connects Fenergo’s client lifecycle management (CLM) and regulatory intelligence with Salesforce’s client relationship management, providing firms with a process to “accelerate onboarding through front-to-back office integration,” Fenergo says in a statement.
According to Fenergo, financial services firms can “achieve a 360-degree client view via configurable workflows between front, middle and back office systems and understand the status of AML and KYC compliance processes in real time.”
The connectivity helps customer-facing employees to onboard and verify customers digitally “while delivering an enhanced client experience and accelerating time to revenue,” according to the statement. “The ability for relationship managers to complete CLM tasks in Salesforce also allows financial institutions to continue to safely onboard and verify clients remotely throughout the pandemic.”
Salesforce AppExchange spotlights its “more than 6,000 solutions, 8 million customer installs and 90,000 peer reviews” in its statement.
NeoXam and 1741 Extend Software Contract
NeoXam, a financial software provider, and 1741 Group, a fund management company based in Liechtenstein and Switzerland, have renewed their software contract for the next five years, the companies say in a statement. The project to move to the latest software generation of NeoXam’s GP4 has begun, per the statement. NeoXam, headquartered in Paris, spotlights its staff of “more than 500.”