IMD & IRD Awards 2022: Best reference data managed service—Alveo

OVERVIEW

Through product innovation, new client wins and building out its managed data service offerings, Alveo has increased its footprint in reference data managed services.

THE SOLUTION

Alveo’s managed services solution, Platform as a Scalable Service (PaSS), delivers enterprise data management services to its clients, including hosting, testing, data loading, change and data operations. In 2021, Alveo released its new data operations UX, Ops 360, which provides firms with optimized data sourcing, data access via browser and APIs, and full transparency on data flows, including lineage. This provides a full window into the managed service.

Key components underpinning Alveo’s PaSS include: 

• Prime, its data sourcing and mastering platform
• Enhanced data quality and transparency through managed vendor interfaces, structured data workflow and data lineage 
• Optimizing managed data spend, which tracks data consumption as well as internal usage
• Business user enablement and workflow integration through a range of accessibility and exploration options
• Derived data and analytics 

WHAT’S TO COME

Using new APIs and UX, Alveo will increase its packaged integration with third-party and open source quant libraries, including Quantlib.

It will continue to grow its engineering and services headcount to support product expansion and further growth in its managed services business.

To expand the range of offerings within the PaSS service catalogue, Alveo expects to add to its existing set of subject matter experts, following demand for its services to help new and existing clients with regulatory change as well as digital transformation and cloud migration.

WHY THEY WON

One area of the capital markets data industry that saw business increase during the Covid-19 pandemic is managed services. In fact, the majority of firms on both sides of the industry that have participated in WatersTechnology’s managed services research projects over the last 18 months have indicated an increased likelihood of them boosting their managed services relationships, especially those pertaining to managed data services. Alveo’s PaSS is well placed to respond to that demand.