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Reference Data Center platform will be available through the Specialized Information Services portal
Vertical Management Systems (VMS) and Recognos Financial (Recognos) today announced a strategic partnership designed to provide current and future clients with all-encompassing mutual fund data from Recognos' Reference Data Center (RDC) platform, now available through VMS' Specialized Information Services (SIS) portal. The cost-effective, cutting edge technology will provide clients with comprehensive mutual fund information needed to support their businesses efficiently, from start to finish.
The RDC platform is a mutual fund document and data repository that transforms the unstructured data from documents into actionable and verifiable insight using Recognos' proprietary semantic technology. As an EDGAR distributor, all the text documents pertaining to mutual funds are transmitted by the SEC to Recognos Financial even before they are posted to the EDGAR database.
"Through this partnership, fund companies, broker dealers, third party administrators and insurance providers have a new entity in the marketplace that provides them with data they can depend on to run their businesses," said Kevin Rafferty, President and Chief Executive Officer at VMS. "This technology enables them to better service their clients and remain compliant with evolving regulations, which is imperative in this age of uncertainty."
The SIS portal offers clients a wide array of financial information, including data on more than 33,000 mutual funds, global and domestic equity prices listed on 170 markets worldwide, as well as global and domestic equity and fixed income corporate action announcements.
"Not only will clients have the fund data, but also the source document which highlights the extracted data, thereby providing evidence of its validity," said Drew Warren, CEO of Recognos Financial. "This is unique in the data business. It presents a new paradigm that will prove highly beneficial and efficient for subscribers."
Of the partnership, Ira Cohen, Executive Vice President of Recognos Financial said: "Working alongside the subject matter experts, advanced technology personnel and experienced management at VMS will provide not only a great product for our clients but also an enjoyable experience for all of us as we take the next step towards our future."
Vertical Management Systems (VMS) is one of the nation's leading providers of data, financial networking, and account aggregation technology. For nearly 25 years, VMS has designed, developed and hosted accounting and securities process-and-control solutions for the largest financial institutions in the United States.
VMS' three core products include its retirement platform, Retirement Revolution, a leading supplier of next-generation retirement solutions; Mutual Fund Desk (MFD), a mutual fund process-and-control platform; and Specialized Information Services (SIS), a comprehensive source of customized and audited financial data. VMS is a NewSpring Holdings portfolio company. For more information, please visit www.vmsholdings.com.
About Recognos Financial
Recognos Financial is a premier provider of AI and semantic technology based data management services to the financial services industry. Using advanced machine learning, semantic and natural language processing techniques, the company combines structured and unstructured data to deliver greater context, insights and business value to financial institutions via its proprietary financial data feeds.
Recognos Financial also provides data management and cleansing services that help customers automate and optimize critical financial data to reduce data costs, increase flexibility and ensure data compliance. Founded in 2008 with headquarters in New York, NY, Recognos Financial has global offices in San Rafael, California, Houston, Texas and Cluj Napoca, Romania. For more information, visit www.recognosfinancial.com.