Microsoft managed services provider RedPixie has spun out an intellectual property company, backed by Microsoft, to provide a cloud-based asset management platform to the financial sector.
Nimbrix is a SaaS platform, based on blockchain technology and Microsoft's Azure platform, formed by the team at RedPixie along with veterans for financial heavyweights UBS and Blackrock.
Mitchell Feldman, chief digital officer at RedPixie and Nimbrix, told CRN at Microsoft's Future Decoded event in London that no one in the world is currently offering a cloud-based asset management platform.
"This solves a problem that is in the market today," he said. "If an asset manager wants to use a cloud-based application, there is not one available.
"There are lots of people pretending that they're playing with it [but] we've actually created an application that will completely revolutionise the world of asset management."
Feldman explained that Microsoft has been instrumental in the creation of Nimbrix's platform, with Nimbrix CEO Simon Bullers even having one-to-one meetings with Microsoft's CEO Satya Nadella and executive vice president Scott Guthrie.
Announced alongside Nimbrix's launch was the formation of a consortium - with Nimbrix, KPMG and Microsoft - which will take the platform to market.
Aman Kohli, chief technology officer at Microsoft services UK, said: "Microsoft and Nimbrix are working together to deliver technology powered by Microsoft Azure that is exciting and relevant to customers and the market.
"It's a next-generation financial services product and we're seeing great interest from buy-side customers."
Nimbrix said its platform can execute trades instantaneously, removing delays that can often take weeks.
Feldman added that the system will stand up against increased regulatory scrutiny in the financial sector.
"There is some ambiguity around the integrity of the data [in the software that is currently used], but because we'll run it on blockchain, it's an irrefutable database - it cannot be tampered with.
"There is no ambiguity around a trade or mistrade because there is a full audit trail, so it is highly disruptive."
The consortium and the core Nimbrix platform are set to launch in early 2017.
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