Creates innovative one-stop platform for asset & wealth managers to fully automate and optimize portfolio management and research process
BondIT, an independent portfolio construction technology provider for fixed income, and Scorable, a provider of AI-driven credit analysis, announced the signing of a definitive merger agreement pursuant to which the companies will combine their technologies in order to transform fixed-income investing. The transaction is expected to close by the end of 2020.
Bringing together cutting-edge technology and advanced AI, the combined company will offer a fully integrated portfolio management and research as a service solution, enabling fixed income asset managers and financial advisors to automate and optimize the investment process. The solution empowers users to build and analyze portfolios within minutes rather than hours or days.
Additionally, BondIT’s and Scorable’s uniquely scalable solution allows asset managers to rebalance existing portfolios and define and manage universes, including approved or restricted issuer lists. Users can simply specify their individual portfolio objectives and bond level constraints and get results in real-time, improving productivity and efficiency for asset managers while helping scale revenues. Further, the new solution seamlessly integrates with asset managers’ internal models and connects with existing order management and execution systems.
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“Fixed income investors still rely heavily on manual-driven procedures, but in light of market and cost pressures, intelligent automation is increasingly necessary to stay competitive. Merging our technologies allows us to even better serve the evolving digital needs of our clients by helping them optimize their portfolio and risk management to boost efficiency, performance and scale,” said Etai Ravid, CEO of BondIT. “This merger further supports BondIT’s goal of creating a one- stop platform for Explainable Portfolio Construction, to allow users to easily understand the rationale behind the investment selection by making idea generation transparent and intuitive.”
Philippe Padrock, Managing Director of Scorable, said, “Most portfolio managers have access to a large amount of data, but they struggle to turn it into a competitive advantage. It needs the right tools to transform data into useful intelligence. Implementing technology to centralize information and data is imperative, and Scorable’s explainable AI does exactly that by turning vast amounts of data into relevant insights and translating these into appropriate actions based on the portfolio objectives – all in a fraction of time that the manual process would take.”
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