Technology to Increase Transparency, Provide Seamless Client Experience
OAKS, Pa., March 20, 2018 /CNW/ -- SEI (NASDAQ: SEIC) today announced its strategic partnership with Quovo, a leading provider of account aggregation and data analytics for finance. Through this relationship, SEI will implement data-aggregation applications that will provide real-time account information for financial intermediaries and end-investors.
"Quovo is a well-respected provider of account aggregation in the financial services industry, and their way of thinking aligns with ours – empowering firms through technology," said Ryan Hicke, Chief Information Officer at SEI. "The wealth management industry is rapidly evolving, and the continuous development and enhancement of technology are catalysts for that change. APIs are one component of SEI's enterprise strategy to harness next-generation technologies and identify opportunities for alignment with the product initiatives that benefit our clients, workforce, and business."
SEI will research opportunities with use cases to implement Quovo's account aggregation technology, which is built on a data platform with an API-driven architecture. Through its industry-leading APIs and modular applications, Quovo enables financial services firms to personalize their services and better engage with clients.
"We look forward to supporting SEI in their efforts to further streamline their clients' wealth management experience," said Lowell Putnam, co-founder and CEO of Quovo. "By connecting to consumer financial accounts through Quovo, SEI will be able to deliver a more insightful and personalized digital experience that caters to the increasingly demanding expectations of current and prospective clients."
"A firm can no longer focus solely on investments; it's about the bigger picture of clients' financial success," said Russ Kliman, Head of Strategic Programs at SEI. "Quovo's technology will help us provide a comprehensive, up-to-date view of financial accounts from a single platform, enabling clients to more efficiently and effectively manage their wealth."
Now in its 50th year of business, SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2017, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $861 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $337 billion in assets under management and $518 billion in client assets under administration. For more information, visit seic.com.
Quovo is a data platform providing insights and connectivity for millions of financial accounts across thousands of institutions. With industry-leading APIs, modular applications, and enterprise solutions, Quovo helps deepen relationships by better connecting institutions and advisors to their clients' financial lives. Today, hundreds of institutions, thousands of advisors, and millions of end-users rely on Quovo's technology for account aggregation, bank authentication, and ongoing insights to build better financial futures.