Citco Institutional Services will provide new range of services aims to relieve legislative and regulatory pressures on institutional investors.
Custodians are moving to becoming one-stop-shop platforms, enabling investment managers to access a wider range of data and analytics tools.
Securities lenders and borrowers will be able to analyse their performance against best matched peer groups.
Big data is coming under growing scrutiny in certain quarters, as the risks of bad data could have an adverse affect on machine learning tools.
The platform, called Matrix, will aim to centralise and process all of the data captured by underlying custody, fund administration and transfer agency platforms.
With increased requirements on fund transparency, it could provide further opportunities for custodians to offer analytics services to asset managers.
Big data is becoming a greater value proposition for custodians than the traditional model of asset keeping and settlement.
The custodian will also look to deliver new capabilities across data aggregation, data enhancement and data analytics to support trading and execution.
The Series A round of funding for the FinTech firm is the latest move for fund administrations expanding their front-office data capabilities.