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Fidelity Deploys Cloud-based Platform to Streamline Legacy Data

Fidelity International has invested in a cloud-based data platform that will see the FinTech firm drive the asset manager’s data strategy following a long-standing partnership. According to a story in The TRADE news, FINBOURNE received a strategic investment from the venture capital business at Fidelity, known as Fidelity International Strategic Ventures, in a recent funding round with other undisclosed investors. Fidelity will now adopt FINBOURNE’s LUSID platform, which the asset manager developed in partnership with the platform provider, HSBC Securities Services and hedge fund Atlana Wealth in 2018, to replace legacy in-house software and hardware data systems. LUSID went live in 2019 with its cloud-based and API architecture to consolidate and simplify complex data controls and performance, allowing buy-side firms to pull their data from portfolios, custodians, fund administrators and prime brokers into a single platform.

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