Netik focuses on satisfying the needs of the buy-side firms through its latest technology in the middle office.
2009 saw significant budget cuts but also an increased desire for improved data management 2010 demands improved client reporting and advanced technology in the middle office.
As businesses recover from the financial crisis the necessity for increased transparency, greater risk management and improved reporting saw increased interest in data and data management. Yet 2009 saw operations, IT and data management budgets severely cut with more than one clients budget being restricted by 60%.
Netik recognizes the importance of higher quality data for its clients and has met the challenge to do more with less by offering its clients reference and market data managed services as well as software. This enables clients to improve quality of data at a reduced cost and retain local control while leveraging the Netik utility.
This has been an extremely successful solution whereby Netik has added two major North American clients, a leading dark pool and a major west coast asset management firm, to the growing number of Netik GSM customers, says John Wise, Chief Executive Officer of Netik. We are pleased that Netik is able to meet our clients need to improve their reference data management capabilities whilst also retaining control of their data. In addition to this Netik is having continued success in the asset servicing data warehousing, business intelligence and interactive client reporting portal market, recently signing a significant middle east stock exchange to the Netik InterView platform. Despite the events of 2009, Netik has had a successful year.
As focus shifts to what 2010 has to offer, Netik recognizes that an increase in budgets is unlikely, and the challenge will be how to maintain doing more with less. Netik is confident that its unique hybrid approach of managed service to improve data quality at lower costs, combined with the local control of on-site container technology will ensure its clients are able to continue improving their data management standards.
Following the financial crisis and Madoff, Netik is expecting regulation to push clients to reduce operational risk by having a reputable third party administrator to undertake fund accounting, investment accounting and custody. Netik is assisting clients in the consolidation, management and reporting of data received from outsourcers, fund administrators, custodians and prime brokers and has a number of top-tier firms leveraging its Netik InterView technology in the middle office. In 2010 Netik will be launching a high packaged version of these tools to specifically satisfy the needs of the buy-side firms with outsourcing functions in place or in mind.
D.C.