Silverfinch connects asset managers and insurers through a fund data utility in a secured and controlled environment to meet the requirements of Solvency II

Country: UKsilverfinch
Year: 2014

Concept

  • Solvency II is a regulation for insurers that requires asset managers to share their most valuable asset their proprietary portfolio data with insurer clients.
  • Silverfinch is a secure fund data utility that allows insurers to comply with Solvency II regulation, and enables asset managers to manage and carry out requested look-through and respond to their insurance company investors in a timely and controlled fashion.
  • Silverfinch was launched in Jan 2014 by the Moneymart Group, which is a provider of data management solutions to the fund management industry, to help insurers comply with Solvency II regulation, which came into effect on 1st January 2016.

Consumer Benefits

  • Asset manager retains full control of permissioning
  • Protects intellectual property for compliance
  • Simple and cost efficient model: saves time and money in standardization
  • Business development can capitalize on delivering value to clients

How to use

  • Step 1 – Insurers upload their target list of funds for look through
    • Automated matching of targets to listed funds
    • Requests for access issued automatically
    • Dashboard with status of access rights
  • Step 2 – Request is reviewed and access is granted by the asset manager
    • Purpose built permission management workflows
    • Simple management of look through requests in real time
    • Full audit trail of access rights
  • Step 3 – Insurers configure and run the look through report
    • Simple and quick configuration
    • Inputs: report name, funds in scope (selected from target list) and data effective date
    • Instant download in pipe delimited csv or XML format

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