FA Solutions have launched a new technological innovation that enables companies in the financial industry to form efficient value networks. This ‘Roboblock‘ network can be established by any company and they can in turn invite their partners to join. For example, with a Roboblock network, a fund company or an asset manager can build new distribution channels for their products. The network enables each of the participants to concentrate on their special areas of expertise to enhance efficiency and gain benefits.
“Roboblock networks are removing the need for extra middlemen and therefore enables significant cost savings. With the Roboblock network your imagination is the only limitation. For example, a robo advisor could collect the best asset managers around the world under one user interface”, envisions Hannes Helenius, the creator of the idea and Chairman of the Board at FA Solutions.
The network is utilising open application programming interfaces (APIs) to exchange information between the participants’ investment management systems. The data exchange is done safely, transparently and in real time. Each of the network participants can define what kind of data they want to exchange. For example, if they wish not to hand over customer information, portfolios can be tagged with identification numbers instead of customer’s personal information. Moreover, all the necessary banks and custodians will be connected to the network for settlements, reconciliations, and other data transfer needs. And of course, all the actions carried out in the network are recorded as required by the regulations of the financial industry.