How was this latest initiative created and how did it lead you to settle in Luxembourg?
SG: Different players in the investment funds sector, such as fund managers, administrators, transfer agents, auditors or investors, must exchange information. While the fund industry today performs in financial transactions, it is far from being the case for the exchange of information. However, we believe, in AssetLogic, that we discovered the reasons for this dysfunction. Actually, we noted that all the funds industry players use individual technologies, thus rendering the information exchange ineffective, all the more as the players work in silos.
BC: 'Big Four' collaborators in California are aware of our innovative solution and talked to us about the European AIMF Directive, which aims at providing a harmonized regulatory and supervision framework for AIFM in the EU. These measures result in the players having to share more information than in the past, on a more regular basis and all in a more supervised environment. All this convinced us to develop this platform.
Specifically, what is this platform, and how is it innovative?
SG: The principle is very simple; we have developed a solution which aims at bringing the different funds players together on a single Internet platform, a platform that aims at becoming a specialised business network including a maximum of members in this industry. To become a member, a subscription fee has to be paid. Any member can then enter data posted by different players.
Specifically, as a fund manager, for example, I hold my account on the website and I am able to delegate to each of my administrators, transfer agents and other players (holding their own accounts) the ability to add the information I need. When I have information to share, I can do it safely with any network member.
In other words, the platform is similar to a social network but set out as a business specialised network?
SG: Absolutely true. The fund industry requires a platform for information sharing, which is as easy to use and efficient than a social network, but providing three additional components, namely security, privacy and "power."
BC: Actually, this is a 'Software as a Service' solution which professionals join via a subscription. Currently, players working together should proceed according to the traditional methods to interact and share information, by sending emails with attachments, with the lack of flexibility and security issues that entails.
What led you to closely work with EBRC?
SG: First of all, we chose Luxembourg to host this global platform for three main reasons: the "trusted" ecosystem, the clients and the first-class IT infrastructure. Indeed, Luxembourg is famous for its confidentiality culture, is the second location worldwide for the investment funds industry and has excellent IT infrastructures, particularly in terms of bandwidth. We chose EBRC to manage our full Managed Services" applications; EBRC has hosting infrastructure with very high availability that meet the highest possible standard, the Tier IV certification, as well as an expertise proven in the financial sector. Moreover, EBRC is perfectly able to meet all our needs with its full-range services which make it a ' Trusted One-Stop-Shop'.