Fiserv, Inc. is a leader in providing financial services technology solutions all over the world. The company has commented today that the Unified Wealth Platform from Fiserv, the industry’s largest wealth management technology platform, has been named Best Technology Platform by Private Asset Management (PAM) awards held in New York City.  

Currently in its seventh year, the PAM Awards recognize and reward investment professionals, wealth advisors, legal firms, consultants, and other key service providers operating within the private asset management industry.

Judged by a panel of representatives from Private Asset Management Magazine and leading industry experts, Fiserv was recognized for its strategic investment in the front-office component of its Unified Wealth Platform to better support advisors and their investors in today’s digital world. Over the past year, Fiserv delivered innovative new functionality to integrate advisor capabilities into the middle and back office, and introduced a new user experience. Fiserv also offered advanced monitoring and reporting capabilities in response to a changing regulatory environment for higher levels of fiduciary care. And most recently, an integrated digital advice (robo advisor) offering was announced by Fiserv to help drive digitization and connectivity in the wealth management industry.

“We are honored to receive this award demonstrating our commitment to innovation. We provide our clients with the best technology to help them reimagine the experience for the end investor,” said Cheryl Nash, president, Investment Services, Fiserv. “Unified Wealth Platform provides the benefit of a single platform resulting from our many years of integration experience. An advanced digital interface, continuous user enhancements and a new white-label digital advice offering help create more efficiency, freeing up time for advisors to better engage their clients and build stronger, more meaningful relationships.”

Unified Wealth Platform provides technology automation across the entire wealth management process, including financial planning, retirement-income analysis, portfolio management, trading, accounting, portfolio performance and reporting. Fiserv currently supports an elite list of wealth management firms, including eight of the top 10 broker-dealers and the 10 largest asset managers in the U.S., representing over $1.4 trillion in assets on its platform.

Fiserv is a market leader providing innovative wealth management solutions and was named “Best Outsourced Technology Infrastructure Provider” in the 2016 U.S. Mutual Fund Services Awards. With the industry's largest digital destination for wealth management participants, Wealth Management Network from Fiserv includes access to a robust network of 70 sponsor firms, including eight of the top ten broker-dealers in the U.S., and supports approximately 300 asset managers with easy access to hundreds of model portfolio strategies. This facilitates real-time digital connectivity among all major market participants, including asset managers, broker-dealers, custodians, banks, aggregators, market utilities, advisors, investors, and third-party partners. 

Key points:

• Snap’s cool image has helped it grow, but this could also be a risk. If Snap is unable to remain innovative, an emerging next cool app could replace it.
• Snap’s move into consumer hardware with Spectacles points to a broader platform strategy. By offering a varied portfolio of products and services Snap will compete with a much wider range of companies that may have very different business models.
• Another potential threat for Snap is the ability of its competitors to copy its most innovative or appealing features is. Often with larger audiences and deeper pockets, Snap’s competitors can afford to develop competing services.

Analysis:

Innovation, cool brand positioning, and the uniqueness of its role in documenting people’s lives have been key to Snap’s success. After its IPO, it is vital that Snap maintains its loyal audience to mitigate the impact of competitors copying its features.

Among its risks, Snap highlighted that the nature of its youth audience means brand loyalty can be low. A decline in the number of its core users would undermine its advertising business. Building a business purely on cool youth brand appeal may not be a sustainable long term bet. Beyond the brand loyalty issue, this also underscores the fact that Snapchat does not have a wide audience pool. Snapchat only commands a subset of online audiences, which means it cannot attract ad budgets for all demographics, unlike peers such as Facebook, which have users across all age groups. Snapchat has strong appeal for brands that want to target its highly-engaged and valuable young audience but brands looking to target a broader demographic will need to use other platforms as well as, or instead of, Snapchat.

Snap reported a net loss of $520.4 million in 2016 as its shift from a relatively low cost ephemeral messaging app to a full content platform increased costs. Snap’s move into consumer hardware with Spectacles points to a broader platform strategy. By offering a varied portfolio of products and services Snap will compete with a much wider range of companies that may have very different business models.

Global expansion is not a priority for Snap. Instead, it is focused on markets with advanced mobile infrastructure and advertising technology. Its content and video centric app experience means it relies on users with higher end smartphones, access to fast mobile data networks and the ad infrastructure needed to monetise them.

Threats from Facebook

Snap’s cool image has helped it grow, but this could also be a risk. The next cool thing could displace it. Snap started off as a photo-messaging app and then built a wider platform. Many Snap users remain active users on Facebook. Over the years Facebook has built strong brand loyalty and become an essential daily communication tool for many. Snapchat is a trendy social app, with cool features like filters and camera effects. If Snap is unable to remain innovative, an emerging next cool app could replace it. In launching new features and deploying advertising, Snap must also be careful not to disrupt its communications proposition. Communication features are crucial to maintaining high levels of engagement within the app and across a wide network of users.

Another potential threat for Snap is the ability of its competitors to copy its most innovative or appealing features is. Often with larger audiences and deeper pockets, Snap’s competitors can afford to develop competing services.

Facebook’s Instagram is its most obvious immediate competitor—given the app’s photo and video focus, strong youth audience and premium brand appeal. Both Instagram and Facebook apps added Snapchat-like ‘Stories’ features in 2016 at a time when Snap’s overall user growth started to slow.

In 2012, the Consumer Financial Protection Bureau became the first government agency ever to supervise the national consumer reporting companies. Even more than that, the Bureau became to first federal agency to supervise all sides of the credit reporting market, from the consumer reporting companies that collect the information to the various companies that furnish it to them. For the first time, it became possible for a single agency to see across the entire credit reporting ecosystem and hold all of the key parties responsible for issues of data accuracy and dispute handling; no finger-pointing could deflect accountability. 

Today we are releasing a report offering more detail on the problems we have uncovered and corrected in the consumer reporting industry through our oversight work over the past several years. It tells a fascinating and eye-opening story. We have pressed the consumer reporting companies to fix data accuracy and repair dispute handling, and we have pressed those who furnish data to clean up the information they are supplying to the consumer reporting companies. Although much more improvement still is needed, we are making real headway. And the importance of this work for the overall welfare of consumers is truly enormous. 

Before we started supervising the consumer reporting industry, accountability occurred only through sporadic enforcement actions and private litigation. There was no direct and continuing oversight to address the problems consumers had with the industry. Standards on the accuracy of information in consumer credit files were distinctly sub-par.  For general industry purposes, the data may have been good enough if lenders found it helpful in gauging credit risk, but that rough-and-ready standard did not work well for individual consumers. Indeed, in 2012, the Federal Trade Commission released the results of a study it conducted of the accuracy of credit reports. It found that at least one-in-five consumers had an error on at least one of their credit reports and for one-in-five of those the error was sufficiently serious to materially affect their credit score. This translates into many millions of American consumers. 

Consumers also complain about the great difficulties they encounter in getting errors corrected. They often find themselves with little or no recourse if they are stymied or things go wrong. I recall the kinds of stories I heard in Ohio when we were working on credit freeze legislation – sometimes it took well over a year and a shoebox full of contacts to get any results, and many matters ended in complete failure. Some errors are unavoidable even in the best of systems. But when consumers find what they perceive to be erroneous information in their credit reports, unreasonably laborious processes to get those errors fixed should not burden them. 

Yet people continue to tell us just how hard it is for them to get errors corrected. Our latest Monthly Complaint Report, released a few days ago, shows that consumers continue to struggle to resolve errors on their credit reports. As of last month, the Bureau has handled approximately 186,000 credit-reporting complaints, with many expressing common issues over time. 

Having said that, though, we are moving the needle. Five years ago, we first began to conduct on-site examinations to see whether and how consumer-reporting companies were complying with the law and whether their practices posed risks to consumers. We have gained a more thorough understanding of their business models and business practices. But most importantly, we began to work with them to correct the many problems we found and to resolve matters that were causing harm to consumers.

Until we gained the authority to do this work, no state or federal regulator was in position to hold these companies regularly accountable and none could generate a complete picture of what was happening inside their operations. So we began monitoring and examining them just as we monitor and examine the biggest banks, giving us a clear window into the entire credit reporting system. The companies became subject to review of their compliance systems and procedures through on-site examinations, discussions with relevant personnel, and reporting requirements. This is a very different and much more systematic approach than merely subjecting them to sporadic law enforcement actions, as had occurred previously.

Our approach has been holistic – addressing not just the consumer reporting companies themselves, but also the banks and other financial companies that supply them with data, including mortgages, student loans, auto loans, credit cards, and debts in collection. In 2013, we published a bulletin emphasizing that we would hold furnishers accountable for their obligation to investigate disputes forwarded to them by the consumer reporting companies.  We explicitly noted that they must review all relevant information provided with the disputes, including documents submitted by consumers. We had found that was not the norm. We also continue to educate the public about the importance of checking their credit reports, what to look for, and how to dispute any errors in their reports. 

The approach is in line with our fundamental understanding that the consumer reporting market is not simply a business-to-business market. Instead, it is a market that deals with the precious and personal information of many millions of individual consumers, with huge impact on their lives. In treating the consumer reporting companies accordingly, our approach has worked a substantial change in their approach and in their outlook for consumers. 

As outlined in today’s special edition of Supervision Highlights, our oversight teams have focused their work on data accuracy, repairing dispute handling, and cleaning up information supplied by furnishers. As our report shows in much greater detail, our corrective actions have had a considerable positive impact for consumers. 

First, in our earlier exams when we first started supervising the consumer reporting companies for data accuracy, we were surprised to find that their quality control systems were either rudimentary or virtually non-existent. Without strong controls in place to check the accuracy of their records, however, data quality could not be assured. So we directed them to make a number of changes to improve in this area, which they did. In our more recent exams, we have found that quality control programs have now been instituted, which include testing to identify whether credit reports are being produced for the wrong consumers and whether they contain mixed-up files. The companies are also taking better corrective actions when errors are identified and making more systematic improvements to prevent the same errors from happening again. 

Second, we have imposed extensive corrections to the processes for consumers to dispute the information contained in their credit reports. At the outset, we found that those processes were badly broken. Our examiners discovered that one or more of the consumer reporting companies was not following the federal requirement that they must send a notice to consumers clearly stating the results of their investigation of disputes. Our examiners also found that companies were failing even to consider documentation that consumers had provided in some disputed matters. So we imposed specific corrective actions to require the companies to improve their dispute investigation systems. Since we began to focus on this area, we have directed them to do a better job of investigating disputes and providing more complete response letters to consumers. And we are making it a point to follow up on these directives. 

Third, we are also cleaning up the information that the consumer reporting companies receive from those who furnish it to them. We are all familiar with the data problem of “garbage in, garbage out.” Through our reviews at both the banks and other furnishers, our examiners found widespread problems indicating that they were supplying incorrect information to the consumer reporting companies and failing to follow an adequate process to correct the information when consumers disputed it. So we directed them to undertake specific improvements, such as maintaining evidence that they are accurately handling disputes and conducting reasonable investigations. As a result of our reviews, many furnishers have recognized the need to dedicate more resources to ensuring the integrity of the data they provide to the consumer reporting companies and to address errors when they are brought to the furnishers’ attention. This includes better handling of disputes, notifying consumers of results, and taking corrective action when inaccurate information is found to have been supplied. 

During our examinations over the past several years – encompassing various kinds of financial institutions, not just the consumer reporting companies – when examiners have found violations of law, they have directed the companies to change their conduct and remediate consumers. In certain instances, as appropriate, the Bureau’s supervisory activity also results in enforcement actions, such as the actions recently taken against some of the consumer reporting companies for deceiving consumers about the utility and actual cost of the credit scores sold to them. The Bureau has also taken an enforcement action against Wells Fargo, as a furnisher, for failing to update or correct inaccurate, negative information reported to the consumer reporting companies about student loans. This all goes to say that while we make every effort to correct problems through the use of our supervisory authorities, when enforcement action is needed on behalf of consumers, we are willing and able to use that tool as well. 

Our oversight activity is prompting an entirely different approach to ensuring compliance at the major consumer reporting companies and their data furnishers. We are requiring them to engage in proactive attention to compliance, rather than a defensive and reactive approach to the issues raised by data accuracy and dispute handling. We believe this proactive approach will continue to benefit consumers – and the lenders that use credit reports – for many years to come. 

Another way to help improve the consumer reporting market is to get consumers more directly involved. If consumers begin to demand more, they can compel both the consumer reporting companies and furnishers to become more responsive and responsible to the public. This means turning the established business-to-business model of credit reporting to focus more squarely on the needs and rights of consumers. 

In order to make this happen, it is necessary to stimulate even greater consumer awareness of the credit reporting system and how it matters to people’s lives. People cannot take control of their finances if they do not recognize how this system exerts substantial influence over their financial choices. We have attacked this problem by championing the Open Credit Score initiative and related developments, which are aimed at making credit scores and credit reporting information more readily available to consumers at no cost. Years ago, people were given the right to check their credit reports for free with each of the three largest consumer reporting companies and with other specialty companies every year. But credit scores were not made available in the same way, even though seeing one of their credit scores tends to give consumers unique insights into the meaning of all the cumulative information contained in their credit files and, in fact, credit scores are what matters most to many lenders. The Open Credit Score initiative is now taking on this problem by encouraging industry to continue to expand access to free credit scores and by building consumer awareness of the availability of credit scores and credit reports. It also helps consumers understand how they can use this information to achieve their own financial goals through expanded educational efforts by a growing roster of consumer lenders and others. 

Startupbootcamp, the global accelerator network dedicated to scaling entrepreneurial innovation, has announced its expansion to the Latin American market through the launch of a dedicated fintech program in Mexico today.

Following the success of other Startupbootcamp Fintech programs in London, Amsterdam, New York, Singapore and Mumbai, Startupbootcamp FinTech aims to accelerate Latin American startups by providing them with funding and mechanisms to grow through mentoring, access to corporate partners and clients, and taking advantage of Mexico City as a launchpad. The application process is now open for Latin American startups to take part in the world’s most prestigious FinTech accelerator program.

The accelerator program

Startupbootcamp Fintech Mexico City is a joint venture between Startupbootcamp and Finnovista - the leading champion of fintech innovation in Latin America.

The program has the support and involvement of global and regional leaders in financial services including VISA, Fiinlab powered by Gentera, BanRegio, EY and the international law firm White & Case.

Designed to support 10 FinTech startups, the 3-month accelerator program will take the selected startups to the next level through an intensive program that will enrich their projects. The program will provide 15,000 USD in funding, direct access to key players in the regional financial services industry, specialized mentoring, free office space in Mexico City, and access to a global network of investors and VCs, among other benefits. The main objective is to help these startups implement a successful strategy and prepare to scale.

The program will be led by the Fintech experts Nektarios Liolios, co-founder of Startupbootcamp FinTech, Fermín Bueno and Andrés Fontao, both co-founders of Finnovista. Eduardo Morelos, who has a strong track record in startup acceleration, will serve as program director.

Between March and May 2017 a tour of events called ‘FastTrack Days’ will take place to educate promising FinTech startups firsthand about the program. These events will happen in Buenos Aires, Santiago, Bogotá, Medellín, Quito, Lima, Sao Paulo, Mexico City, Guadalajara and Monterrey, as well as Miami and Madrid. The program begins July 3, 2017 with the 10 selected teams.

The application process for Startupbootcamp FinTech Mexico City is now open. Interested startups can apply here: LINK

For information and news about Startupbootcamp FinTech follow us on Twitter: @sbcFinTech

Ullink, a global provider of electronic trading and connectivity solutions to the financial community, today announced a new release of its leading FIX engine, UL APPIA. Version 8 of UL APPIA adds support for generation and processing of microsecond granularity timestamps and new FIX tags, recently ratified by the FIX Trading Community, which must be sent along with electronic orders to support MiFID2 trade and transaction reporting requirements.

The FIX protocol has become the standard for electronic messaging in the capital markets industry, especially for transmission of client order details to sell-side counterparts and to trading venues. MiFID2 materially impacts these flows, requiring extensions to current versions of the protocol. As a Premier Member of the FIX Trading Community, Ullink has participated in the FIX working groups to help define the extensions to the FIX protocol and to provide the necessary support in its FIX engine, UL APPIA.

UL APPIA version 8 supports generation and validation of new tags and the extended tag value sets. Protocol extensions are delivered as data dictionaries and validation rules are available for FIX 5.0 and earlier versions of the protocol. APPIA 8 also generates and validates timestamps to microsecond precision, but remains backward-compatible with current protocol versions as well as the new MiFID2 extensions.

Speaking of the release, Richard Bentley, Ullink’s chief product officer, said, “UL APPIA is one of the leading and most widely-deployed FIX engines, offering best-in-class load balancing, 3-DES encryption security, low latency and high availability for buy / sell-side firms and trading venues, and to FIX-enable in-house and other vendor software applications. With the extensions in version 8, we enable clients to remain compliant with regulations and ensure all FIX messages are well-formed with the data required for MiFID2 regulatory reporting.”

The UL APPIA suite comprises the APPIA FIX engine, TradeScope FIX Monitoring dashboard and the advanced configuration, extension and validation tool, ABC. It can be delivered as an enterprise or fully-managed hosted service.

Mambu is kicking off 2017 by opening new Miami offices and appointing a regional Managing Director to meet the growing demand for their platform in North America, Canada, Latin America and the Caribbean. The office will support Mambu’s current 32 regional clients, including Grameen America which deploys the platform in 12 cities.

“Mambu is the cornerstone of the innovative transformation and expansion of our operations across the United States,” said Andrea Jung, President and CEO of Grameen America. “With Mambu’s platform in place, we will be able to radically transform our member experience, improve our staff efficiency, and provide powerful digital solutions to accelerate our organization's growth and impact for women entrepreneurs nationwide.”

Edgardo Torres has been appointed as Managing Director to lead growth, support and operations, bringing a wealth of SaaS and enterprise technology knowledge combined with regional expertise. Before joining Mambu, Torres served as Managing Director for numerous European software companies, helping them to successfully expand their operations into the Americas. Prior to that Torres spent four years at Hewlett Packard and is a former Vice Minister of the Puerto Rico Department of Economic Development and Commerce. 

“By enhancing our presence we intend to grow our client base and better support our existing users and partners in the region. Mambu helps bring better digital-first financial services to market faster, cheaper and easier than ever before,” says Torres. “I am excited to join the team bringing this innovative platform to market at a time when SaaS business models and digital financial services are revolutionizing the lending and banking landscape.”

Mambu, which recently received Amazon Web Services accreditation and started operations in Singapore, will be growing its Miami-based team over the course of the year. Mambu will be building delivery, support and sales capability to help innovative financial service providers rapidly create, launch and service digital-first lending and banking services.

SBI Ripple Asia reports that a consortium of 47 banks have successfully completed a pilot implementation of Ripple in Japan using a cloud-based payments platform. This platform, RC Cloud, is powered by Ripple’s solution and is the first in the world to enable real-time money transfers both domestically and internationally. As a result, the consortium has confirmed that it will move into commercial phase.

“Consortiums are not hard to come by in this industry, but what makes this significant is that these leading Japanese banks are focused on a clear use case and moving blockchain into production,” said CEO of Ripple Brad Garlinghouse. “This is a concrete example that our solution is already transforming how money is sent around the world.”

With 47 banks utilizing Ripple’s solution to enhance their payments system, the consortium has made large strides in moving towards commercialization. Throughout the process, various aspects of the RC Cloud operation have been evaluated including operational risks, regulatory considerations, standardization and potential interfaces to connect with banks’ accounting systems. The consortium also plans to connect with banks globally, continuing to expand the Ripple network.

“Domestic and cross-border payments have been silo processes that are expensive, but RC Cloud allows for a seamless transaction for both types of payments on one platform,” said CEO of SBI Ripple Asia Takashi Okita. “And as we continue to expand our network, we look forward to utilizing Ripple to enhance banks’ transactions across the world.”

The consortium’s achievement is evidence that Ripple’s distributed financial technology includes the only enterprise blockchain solutions for real-time cross-border payments and is a notable milestone for the growth of our global network. Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. On top of that, over 30 pilots have been completed and over 10 banks are currently moving into commercial use. Ripple is enabling actual use cases, including the consortium’s successful pilot and its move toward commercialization, bringing the financial industry closer to moving value the way it moves information today.

To learn more about joining Ripple’s growing global settlement network, please contact us.

Japan Bank Consortium member banks:

The Aomori Bank, Ltd.

The Ashikaga Bank, Ltd.

The Awa Bank, Ltd.

AEON Bank, Ltd.

The Senshu Ikeda Bank, Ltd.

The Iyo Bank, Ltd.

Oita Bank Co. Ltd.

ORIX Bank Corporation

The Gunma Bank, Ltd.

The Keiyo Bank, Ltd.

The San-in Godo Bank, Ltd.

The Sikoku Bank, Ltd.

The 77 Bank, Ltd.

THE SHIMIZU BANK, LTD.

The Juroku Bank, Ltd.

Shinkin Central Bank

Shinsei Bank, Limited.

SBI Sumishin Net Bank, Ltd.

Suruga Bank Ltd.

Seven Bank, Ltd.

Sony Bank Incorporated

The Daishi Bank, Ltd.

Daiwa Next Bank, Ltd.

The Chiba Bank, Ltd.

The Chugoku Bank, Limited.

Tsukuba Bank, Ltd.

The Tokyo Star Bank, Limited

THE TOHO BANK, LTD.

THE TOCHIGI BANK, LTD.

THE NISHI-NIPPON CITY BANK, LTD.

The Nomura Trust and Banking Co., Ltd.

THE HACHIJUNI BANK, Ltd.

The Hyakugo Bank, Ltd.

The Hiroshima Bank, Ltd.

The Fukui Bank,Ltd.

North Pacific Bank, Ltd.

THE HOKURIKU BANK, LTD.

Mizuho Bank, Ltd.

THE MICHINOKU BANK, LTD.

Sumitomo Mitsui Trust Bank, Limited.

The Musashino Bank, Ltd.

The Yachiyo Bank, Limited.

The Yamagata Bank, Ltd.

The Yamaguchi Bank, Ltd.

The Bank of Yokohama, Ltd.

Resona Bank, Limited.

Bank of The Ryukyus, Limited.

Azimo, the digital money transfer service operating in Europe, today announced a complete overhaul of money transfer services to the Philippines, with a lightning fast instant service via bank transfer.

BDO Remit, the remittance service of the Philippines’ largest bank BDO Unibank, handles all Azimo transfers to the country.  This new service now enables Azimo’s vast user-base to have immediate access to money sent.  Transfers are instant via Credit to BDO Kabayan Savings and other BDO Unibank accounts; and 1 hour for cash pick-up transactions to the Philippines.

The Philippines is estimated to have a population of over 100 million* and an overall GDP of almost $300bn.  But due to the increasing trend of migrant workers leaving the country in order to find work abroad to support their loved ones, the population is in steady decline, with close to 3 million Filipinos** now living abroad.  According to data from the World Bank, Filipinos sent $28.5 billion in personal remittances***, making up just over a tenth of the nation’s GDP.

“The population of the Philippines is in decline year on year with a huge and vibrant diaspora moving away from home in search of a way to support their families.” Said Azimo’s CEO, Michael Kent. “With traditional providers their loved ones would have to wait several days to get much needed support, which, in the case of an emergency or with a bill to pay, is just not good enough.  We’re really pleased to be able to offer them a better, faster way to send and receive money that fits their needs”.

This newly refreshed service from Azimo is also infinitely cheaper when compared with traditional services, due to Azimo’s innovative path to transfer, cutting out middle-men and passing on savings directly to the user.

Along with instant bank transfers, Azimo enables Cash Pick-up through more than 8,000 BDO Remit Cash Pick-up locations in the Philippines including SM locations, M. Lhuillier and Cebuana Lhuilier outlets and other rural bank, and pawnshop partners.

With the largest digital network available, Azimo are constantly updating their service, branching out into new areas and finding ways to keep costs low and increase speed and efficiency for their user-base of over 1 million customers connected to the service.
For more information on sending to the Philippines, visit the Azimo site.

 *http://data.worldbank.org/indicator/SP.POP.TOTL?locations=PH

** https://psa.gov.ph/tags/overseas-filipinos

***http://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS

Linedata is the leading solutions provider committed to the investment management and credit industries. Today the company has announced that John Hancock Investments, a leading global financial service, has chosen Linedata Navquest to upgrade its Net Asset Value (NAV) Oversight, NAV Validation, and NAV Contingency capabilities.  

Linedata Navquest offers oversight, validation, testing and contingency for the full range of middle office functions developed from more than 70 customizable controls, using a client’s own rules. It automatically "double checks” the NAV produced (internally or externally) by applying a series of customizable and independent controls against the data, mitigating risks associated with producing a timely and accurate NAV. Linedata Navquest also has the ability to highlight the specific NAV component which may be responsible for the discrepancy, supporting remediation.

John Hancock Investments is a premier asset manager and one of America’s most trusted mutual fund families offering more than 200 funds to individuals and institutions. “With Linedata Navquest, we are implementing an automated, scalable solution that affirms our commitment to identifying risk and providing accurate NAVs to our customers and to the market,” said Charles A. Rizzo, CFO, John Hancock Group of Funds.

“Our industry leading solution delivers comprehensive, highly customizable middle office oversight for institutional asset managers,” said Arnaud Allmang, North America Head of Asset Management at Linedata. “Linedata Navquest allows market leaders, like John Hancock, to fully utilize our latest technology to deliver auditable, validated, contingent and oversight NAV solutions in today’s challenging market environment.”