Canoe Intelligence tech to be rolled out to SS&C users

AI-powered fintech firm Canoe Intelligence is now working with SS&C Technologies and will be integrated into the firm’s existing platforms. Initially SS&C’s Black Diamond Wealth Platform clients will access Canoe in order to improve their alternative investment operational processes. According to a press announcement, Canoe will also provide integration opportunities for Advent Portfolio Exchange (APX), Axys and Geneva users. “Partnering with Canoe Intelligence provides our clients another differentiated way to stay ahead of their competition, and in control of their business growth,” said Steve Leivent, senior vice president and co-head of SS&C Advent. “By automating the extraction and formatting of alternative investment data, clients can ensure greater accuracy as they focus on building long-lasting client relationships.” The Canoe platform essentially uses artificial intelligence to extract relevant data points from reporting documents that can then be fed into Black Diamond. Advisors are able to use Canoe to convert PDF data into a Black Diamond-compatible format, eliminating time-consuming manual efforts and substantially reducing the risk of errors. A long-time Black Diamond client, AdvicePeriod, has already implemented Canoe's technology to manage their alternative investment workflow. "Working with SS&C, our focus remains on improving efficiency and helping firms scale," said Michael Muniz, partner and chief revenue officer of Canoe Intelligence. "This partnership will empower many investment professionals with the tools and tactics to manage a growing book of alternative investments while optimizing time and resources." The New York-based tech shop has been steadily growing its client base. Back in April, for instance, private equity firm Hamilton Lane announced that it had fully implemented Canoe Intelligence, a financial technology tool that automates and aids investment operations for alternative investors.

Canoe Intelligence tech to be rolled out to SS&C users

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