Citco previews CitcoOne Platform to WatersTechnology
Anthony Malakian of WatersTechnology visits Citco's office for a demo on the the fund administrator's new CitcoOne platform. The aim of the solution: to make answering questions quick and easy.
The world of fund administration is staid and features modest innovation centered around the middle and back offices. Some providers are even working with decades-old accounting platforms.
It's in this environment that Citco Fund Services began to rethink its client portal. Obviously, the firm spoke with clients-about 15 initially-about what they'd like to see included in the new offering. But Citco also decided to go out to Silicon Valley to learn about the latest techniques around visualization and user experience. While fund administration is sedate, the technology doesn't have to be.
"We started with a blank slate from a technology perspective. We didn't bring any frameworks into play," according to Nick Eisenlau, a managing director at Citco Fund Services. "In a lot of cases, what happens when you do these things is you take what you have today and re-skin it, make it look prettier, but the guts of it is still the same. We didn't take that approach - it's a completely different technical stack and it was designed where nothing was repeated.
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