Fidelity International onboards Finbourne’s Lusid platform

By Joy Dumasia

Fidelity International (Fidelity) has selected Finbourne to drive its data strategy for its global asset management business, to address the growing need to prioritise data as a strategic asset and better serve its clients with new growth initiatives.

Finbourne, the investment management technology solutions start-up established in 2016, has also received a strategic investment from Fidelity International Strategic Ventures, a dedicated venture capital team at Fidelity, in a recent funding round alongside several other undisclosed investors.

Finbourne was created with a mission to reduce the cost of investing and increase transparency by providing a scalable cloud-based common infrastructure for the investment community. By delivering open Application Programming Interfaces (APIs) and feature-rich tools like Lusid and Luminesce, Finbourne helps solve buy-side clients’ data and portfolio management problems.

Finbourne’s Lusid platform is a cloud-native, API-centric architecture, specialising in simplifying complex data hierarchies for enhanced control, performance and insight. Lusid enables asset managers to ingest, aggregate, and distribute data to their entire organisation and allows for extensible calculations across functions such as risk and performance and sharing all of this with clients.

Thomas McHugh, CEO of Finbourne Technology, said: “Today’s announcement is an important step-forward in Finbourne’s vision to create and install a foundation technology across the investment industry. We’ve known and partnered with Fidelity for a number of years, and the brand has always been synonymous with quality and consistency. We are, therefore, delighted their focus on true innovation led them to us for their core asset management technology globally. We look forward to continue working with them on their data strategy, helping to support their clients.”