Alkymi Enhances Data Management for Global Investment Managers Through Google Cloud Integration

Alkymi Enhances Data Management for Global Investment Managers

In a significant advancement for asset and wealth management sectors, Alkymi has launched its innovative data management platform through an integration with Google Cloud. This strategic deployment signifies a new era for investment managers facing complex data challenges in a rapidly evolving market. As the demand for effective management of private market assets rises, Alkymi is poised to redefine workflows and increase operational efficiency across the financial services landscape.

Addressing Global Demand for Private Markets

The private market, with a projected compound annual growth rate (CAGR) between 9% and 10%, is set to see assets under management soar to $60-$65 trillion by 2032. This dramatic increase underscores the need for efficient data management, as asset managers grapple with the complexities of handling expansive volumes of portfolio, risk, customer, transaction, and operational data. Alkymi's AI-powered platform is designed to meet these critical needs by transforming workflows associated with accounting, performance, risk, and valuations.

Secure Deployment in Saudi Arabia

Alkymi's first deployment occurs in the Dammam region of Saudi Arabia, employing Google Cloud's Sovereign Controls. This pivotal step not only addresses the region's regulatory requirements for data security and compliance but also signifies a growing demand for private market investments in the Middle East. By harnessing Google Cloud’s capabilities, Alkymi aims to elevate data security standards that are essential for meeting the operational demands of its financial clients.

CEO Harald Collet emphasizes that the firm's collaboration with Google Cloud facilitates a unique solution for investment managers who require stringent data residency and security measures: "Wealth and asset managers are seeking ways to capture the full value of their investment data, and our engagement with Google Cloud equips them to do just that."

Furthermore, with access to enhanced AI technologies like Gemini AI models, Alkymi aims to leverage these tools within its Software as a Service (SaaS) offerings, delivering tailored solutions to its clientele, including industry leaders like SimCorp and Northwestern Mutual.

Multi-Cloud Support for Global Reach

Alkymi’s recent enhancements also introduce multi-cloud support, enabling firms worldwide to deploy mission-critical workflows securely. The flexibility of this option allows clients to manage high-volume data streams while ensuring compliance with SOC2 standards. This air-gapped deployment capability guarantees heightened security for clients, facilitating smooth transitions to the Alkymi platform.

Commitment to Accelerating AI Adoption

Bader Almadi, General Manager of Google Cloud in Saudi Arabia, stressed the importance of this collaboration, citing it as a key effort in empowering regional financial institutions with secure cloud solutions. By utilizing Google Cloud's advanced infrastructure, Alkymi intends to lead the charge for AI-powered workflows, fulfilling the urgent need for improved data management that not only meets but exceeds regulatory requirements.

The partnership promises to revolutionize how asset managers work with their data, allowing firms to service clients quicker and adapt more nimbly to market changes. With Alkymi's deployment on Google Cloud, financial institutions can look forward to a future enriched with powerful data management capabilities.

About Alkymi

Alkymi stands as the first comprehensive solution that transforms private market data into actionable insights. By leveraging AI-powered document workflows, Alkymi is revolutionizing data accessibility for the private markets, empowering top-tier firms to scale their investments and enhance client service. For more information about this groundbreaking platform and its impact on global asset management, visit www.alkymi.io.