How a Swiss start-up benefits from a UK accelerator program30.10.2014 12:18
DATANEXT is a Software as a Service for small asset and wealth managers. The solution covers the entire investment process. The start-up was selected as a finalist for the 3D Fintech challenge, a UK accelerator program.
“At DATANEXT, we believe that small asset managers can be as effective as large companies. Our mission is to provide a solution for small asset managers which helps to stay on top of the investment process in the challenging times of increasing regulatory requirements”, says DATANEXT founder Krzysztof Gogol. DATANEXT is a FinTech SaaS (Software-as-a-Service) that targets smaller asset and wealth managers and covers the entire investment process: regulatory compliance, client communication as well as quantitative analysis, risk management, portfolio management and asset selection. “With DATANEXT small asset managers do not need any other software providers and can fully focus on their investments”, comments Gogol.
DATANEXT offers its innovative services to small asset managers in a Software-as-a-Service model, in which clients pay the monthly fee for using the platform. There is no set-up fee and the client account is active within days after signing the contract. What makes DATANEXT different from the other software providers for the financial industry is the fact that all services are provided through the cloud. Therefore clients do not have to pay any additional costs such as IT servers maintenance or IT team. Those costs are typical of on-premises asset management systems and many clients are not always aware of them.
The product aimed for wealth managers is already on the market, tested by pilot-customers and the production roll-out is set within the next few weeks. The start-up is now in discussions with banks and custodians to create the automatic datafeeds for its platform to ensure that clients get the latest portfolio information on a daily basis.
For every trading strategy or asset classes DATANEXT is doing a separate release. Right now the platform supports trading of equities, bonds and mutual funds while modules for credits, commodities and derivatives are under development.
The start-up was now selected for the 3D Fintech challenge. This is a 7 week immersive accelerator program by Dassault Systèmes for start-ups, focused on delivering solutions that have the potential to transform and shape the Investment Management Industry. Unlike other accelerator programs, Dassault does not take equity in the start-ups but may consider investing in them, should there be a good business fit. The program started in September and will end on 4 November with the final pitch day.
DATANEXT benefitted a lot from the program explains Krzysztof Gogol: “Being one of the six startups that has been selected already gives us credibility as Dassault Systémès and the six mentoring asset management companies have been voting for us. Having world-class mentors from the leading asset management companies such as HSBC, Morgan Stanley or Deutsche Börse/Eurex is a great way of discussing our business and making the next steps. As non-UK based company, the challenge also presents a great way to make a first entry into the UK market and create a network that will help us to also enter the local market.”
On November 4th DATANEXT will have the Final Pitch Day at Level 39 in London. It is a great opportunity to pitch to various FinTech investors and attract additional interest from potential clients.