BOSTON, April 27, 2018 /PRNewswire/ -- FinMason, a rapidly growing FinTech company, today announced that they are rolling out a Canadian Dollar version of their acclaimed investment analytics as a service platform. This enhancement marks the first step in FinMason's international expansion plans.
The new production environment will allow Canadian financial services firms – and U.S.-based companies with operations in Canada – to leverage FinMason's robust investment analytics to enhance their offerings. U.S. firms interested in expanding to Canadian markets can also take advantage of FinMason's new capabilities to facilitate the process and accelerate their timelines.
"One of the pleasures of working with a completely modern tech platform is that we can put in place a system for rapidly rolling out new base currencies at scale," said Kendrick Wakeman, CEO of FinMason. "That allows us to support our clients and prospective clients across the globe."
This announcement comes on the heels of last month's appointment of 32-year industry veteran David Remstein as the firm's first president and COO, a role in which he will help drive FinMason's international expansion. Prior to FinMason, Remstein held several senior global analytics roles at JP Morgan, Citi and Riskcare, including global head and chief operating officer of analytics and consulting at JP Morgan.
"It is important that investors always look at analytics specific to their own base currency," commented Remstein. "To do it right, you need to do more than just translate the currency. You need to change the perspective. For example, a U.S.-based investor would want to consider Trade-Weighted US Dollar as a potential return driver, but a Canadian-based investor would want to see trade-weighted Canadian Dollar. FinMason's system does just that."
The new Canadian analytics product is scheduled to launch at the end April. Looking forward, the firm projects incorporating support for the Euro, Pound and Swiss Franc by the end of the summer, with many of the Asian currencies following in early 2019. The new base-currency analytics can be accessed by simply changing three letters in the API address, allowing for global firms to use the same code base across all currencies.
ABOUT FINMASON INC.
FinMason is the world's largest independent investment analytics engine for financial services platforms. The Boston-based financial technology firm provides access to more than 700 calculations on every publicly traded asset in the world delivered through one simple API. Developed by FinMason's team of seasoned data practitioners and nine Ph.D.s, the cutting-edge platform delivers institutional-grade analytics in milliseconds via two core products: FinRiver™ – a lightning-fast API that delivers any analytics anywhere in a financial services firm's platform with just a few keystrokes; and FinScope™ – a bulk processing platform that can analyze millions of portfolios every night for compliance screening and performance attribution. For more information, visit www.finmason.com and follow FinMason on Twitter, LinkedIn and Facebook.
Jessica Taylor Shores