Key Takeaways
- • Mirador, Inc. added Alkymi's wealth management-specific machine learning capabilities to its RELI (Retrieve, Extract, Label, Ingest) alternative investment data processing platform, according to a Business Wire announcement dated November 29, 2023.
- • Mirador says the Alkymi integration improves both the quality and speed at which it processes alternative investment statements for some of the largest financial institutions.
- • Chief Innovation Officer Mike Pakula said the modular use of best-of-breed technologies has allowed Mirador's straight-through processing to outpace competitors that rely on proprietary solutions.
- • Mirador, founded in 2015 and employing more than 180 people across offices in the Americas, EMEA and Asia Pacific, positions its offering as a "technology offering, wrapped in a service model."
Summary
Mirador, Inc., a Stamford, Connecticut-based technology-enabled service provider for consolidated financial reporting and offline data management, has added machine learning capabilities from Alkymi to RELI, its proprietary platform for processing alternative investment documents. According to the company's announcement via Business Wire, the partnership adds AI and machine learning functionality to Mirador's core data processing platform, with the stated aim of accelerating and improving the accuracy of alternative investment statement processing.
Mike Pakula, Mirador's Chief Innovation Officer, said the combination of Alkymi's technology with Mirador's human-centric service approach will increase the timeliness of alternative data delivery to clients. He added that Mirador's modular use of best-of-breed technologies has enabled the eight-year-old company's straight-through processing to outpace firms that have built proprietary solutions. Mirador has been tracking and reporting on alternative investments since its founding in 2015.
Harald Collet, CEO of Alkymi, described the partnership as another example of how machine learning can convert unstructured financial documents into proprietary data sets that support reporting and decision-making. Joe Larizza, Mirador's CEO and President, said the firm's promise of "exquisite service" is best delivered through its approach of pairing technology with a service model, and he characterized RELI as a significant component of operations given the volume of alternative investments the firm processes.
Mirador provides consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management and compensation management for wealth management firms, serving advisors to ultra-high and high-net-worth investors across the Americas, EMEA and Asia Pacific. The announcement did not disclose financial terms of the partnership or specific client counts.
Mike Pakula, Mirador's Chief Innovation Officer, said the combination of Alkymi's technology with Mirador's human-centric service approach will increase the timeliness of alternative data delivery to clients. He added that Mirador's modular use of best-of-breed technologies has enabled the eight-year-old company's straight-through processing to outpace firms that have built proprietary solutions. Mirador has been tracking and reporting on alternative investments since its founding in 2015.
Harald Collet, CEO of Alkymi, described the partnership as another example of how machine learning can convert unstructured financial documents into proprietary data sets that support reporting and decision-making. Joe Larizza, Mirador's CEO and President, said the firm's promise of "exquisite service" is best delivered through its approach of pairing technology with a service model, and he characterized RELI as a significant component of operations given the volume of alternative investments the firm processes.
Mirador provides consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management and compensation management for wealth management firms, serving advisors to ultra-high and high-net-worth investors across the Americas, EMEA and Asia Pacific. The announcement did not disclose financial terms of the partnership or specific client counts.
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