Swiss-based Fimax AMS has rolled out new software, called Assetmax, for independent asset managers and family offices.
The modern, browser-based application includes compliance, portfolio management, consolidation and reporting as well as invoicing and profitability calculations.
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Fimax said that Assetmax’s compliance data enables instance to automate AML controls, analyze cross-border issues and conduct real-time product suitability checks.
Fimax CEO Massimo Ferrari said: "The business for independent asset managers is changing fundamentally due to increased regulation, lower profitability, higher transparency and information requirements, and more demanding customers.
"Assetmax has been designed with the ambitious focus to automatize all business processes and relieve IAMs from the unbearable administrative burden and information overload, allowing them to focus back on what counts most: clients and performance."
Fimax head of back office services Sven Mueller said: "One of our clients used to reconcile manually more than 800 accounts, taking the whole day and assuming as correct more than half of the transactions; with Assetmax it takes less that one hour to complete the reconciliation by analyzing and matching every single transaction.
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By GlobalData"By using very efficient technologies and design, Assetmax can scale seamlessly from 1 account to thousands without any changes in functionality and reliability, making it the system of choice for smart IAMs of any size."
