Rimes, a global leader in data management solutions, is thrilled to announce the expansion of its collaboration with Redwheel, an independent active investment manager overseeing $17.6 billion in assets as of September 30, 2023.
Redwheel, an existing client leveraging Rimes for benchmark data services, has taken a strategic leap by extending this partnership to include Rimes’ cutting-edge Matrix investment management platform. This move signifies Redwheel’s dedication to fortifying its investment data intelligence capabilities and establishing a robust foundation for systematic data management, which includes synthetic data.
In this expanded alliance, Rimes is set to address Redwheel’s fundamental needs by implementing a flexible and structured data management and reporting process. This transformative initiative aims to empower Redwheel with heightened investment data intelligence, an advanced data model, and an optimized data management framework. A pivotal aspect of this program involves the phasing out of legacy data warehouse technology, paving the way for a modernized and efficient data infrastructure.
Nigel Hill, Chief Operating Officer at Redwheel, said, “Expanding our relationship with Rimes is a critical step in our strategic program to transform our technology landscape. It underscores our commitment to innovation and delivering value to our clients. By integrating the Rimes Matrix investment management platform with their benchmark data service, we have equipped ourselves with the tools and capabilities to gain significant competitive advantage through data-driven insights, enabling the firm to thrive in an increasingly competitive marketplace.”
Stuart Plane, Head of Enterprise Solutions at Rimes, concluded. “Our goal is to provide our clients with a modern front-to-back solution that delivers operational efficiencies, reduces costs, elevates data quality and inherent flexibility to support future business growth. The extension of our existing collaboration with Redwheel is a perfect example of a trusted partnership in action, and we are grateful for their continuing confidence in our ability to deliver long-term value to their business.”
To know more about other trending usecases in the US financial services industry, like Generative AI, Open Banking, Buy Now Pay Later (BNPL), explore our other insights.
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