Fintech firm JHC Systems (JHC) has broadened the scope of its partnership with Silverfinch, a European regulatory data exchange, and part of Compliance Solutions Strategies (CSS) product suite.
Silverfinch will now look to provide costs and charges data for managers supporting industries such as pensions and insurance.
JHC and Silverfinch originally partnered in 2017 ahead of January’s MiFID II deadline, which dictated that wealth managers provide full transparency around any costs and charges levied to their customers. The partnership allows users of JHC Neon and JHC Figaro to access all the data that they will need to report for the first time at the end of this year.
Though currently only a regulatory requirement in a limited number of sectors, cost transparency disclosure rules continue to evolve, with Silverfinch and JHC poised to support the data functions for firms across industries who are not yet obligated to report.
Silverfinch Managing Director John Dowdall (pictured), says: “Providing the data necessary to meet regulatory requirements is at the heart of what we do. Partnering with JHC has allowed us to expand our offering to an even wider pool of customers through its market-leading solutions. Like JHC, we’re a forward-looking organisation, which is why we are committed to serving industries where cost and charges information is a concern but not yet an obligation, such as the pensions sector.”
JHC Chief Revenue Officer, Edward Lopez, says: “Silverfinch’s leading regulatory data has been key in helping us to prepare our clients for MiFID II, and as the wealth sector begins to settle into the new changes, we are already working on expanding the solution for adjacent markets such as the pension fund industry. The partnership will allow us to provide services to firms in industries who are not yet obligated to comply but wish to be ahead of the game. As an organisation with significant growth aspirations, we were encouraged by Silverfinch’s industry footprint.”