Here at fintechreviews.co.uk, we have covered lots of newsfrom software company Algomi. They have been securing investments steadily since the company’s launch in 2012.
In just the last six months, the company has secured three further investments, which will lead to collaborative work between companies. In the last six months, Algomi has partnered with Openfin, AllianceBernstein and most recently, S&P Global.
Their latest collaboration with S&P Global will result in data and product collaboration, with both companies benefitting from sharing data.
S&P Global’s investment has bought them a minority stake in Algomi, a seat on the board of directors and a development plan for new software. S&P Global will use Algomi’s bond trading technology to push into new markets.
S&P’s choice to partner with Algomi
Algomi launched into the finance world in 2012 as a software company developing cutting-edge software for fixed income traders on both the buying and selling side of the industry.
The company was founded by a group of ex-UBS bankers and now has over 140 employees, with offices in London, New York and Hong Kong.
The product catalogue helps both buy-side and sell-side traders make better-informed trading decisions. The software does this by utilising artificial intelligence and analytics to interpret vast amounts of data. Algomi’s recent partnership with S&P Global will provide Algomi with even more data.
Commenting on their recent partnership, Douglas L. Peterson, President and CEO of S&P Global, said: “We think very highly of Algomi and are excited about the opportunity to bring our data, technologies and deep analytics into additional market segments. By partnering with Algomi, we will further leverage the power of big data and artificial intelligence to create even more opportunities to deliver value to our and Algomi’s customers.”
Collaboration is key
Due to events like the 2008 financial crisis, big companies are looking for ways to diversify their businesses to gain some stability.
One way many well-established financial institutions are choosing to diversify is with financial technology companies that can provide them with cutting-edge technology that they can themselves use.
AllianceBernstein chose Algomi after a long review. Algomiis a company to look out for, stay tuned for the next Algomi review.