The partnership provides a comprehensive service to customers of both companies, generating personalised reports in compliance with the MiFIDII regulation
This service is being offered for the first time in Spain and Latin America
Openfinance, a BME Group company specialised in developing and implementing technology solutions for financial advising and portfolio management, and Refinitiv, formerly the Financial and Risk business of Thomson Reuters, have signed a strategic partnership agreement that will give financial advisers access to information, technical analysis, news, and pioneering technology in the private banking sector to streamline their decision-making, practically in real time.
In this way, Refinitiv, which also provides news, and enables trading and investment decisions through its market insight ‘Eikon’ tool (desktop and mobile), integrates Openfinance’s ‘BestPortfolio’ solution, an innovative product that automates advising processes and provides aggregated control of all its customers’ positions, regardless of the depository institution.
Thanks to this partnership, Bestporfolio customers will have access to the Eikon platform, which enables customers of both companies in Spain and Latin America to combine the unique capabilities of analysis, market insight , information and news offered by Refinitive, with state-of-the-art technology for private banking portfolio management, developed by Openfinance.
“The agreement between Openfinance and Refinitiv makes it possible to automate the decision-making processes inherent to the digital age. It provides quality content that improves customers’ experience and decision-making ability, and helps them comply with European legislation (MIFID II and PRIIPS) on transparency in investments”, explains Jorge Tavio, Head of Market Development Europe for Partners and Digitalalisation of Refinitiv.
Moreover, ‘BestPorfolio’ is an innovative product that automates investment advice processes and generates proposals and reports. This processing speed combined with the access to updated information provided by Refinitiv creates a powerful consultation and management tool adapted to the needs of investors and managers that significantly streamline their decision making.
Alfonso Alcalá, General Manager of Openfinance, states that “this partnership with Refinitiv is key for Openfinance” and adds “it reinforces our vision of improving the experience of our customers, investors and managers by offering them scalable and strong solutions such as Best Portfolio – Eikon in Spain and Latin America”.
Openfinance is a BME company that is expert in Wealth Management and has over 15 years experience of creating and implementing high-added-value solutions in national and international financial entities. Its clients range from retail banking, private banking, and independent financial advisers to companies, brokers and broker-dealers, insurance companies and Managers of Pension Funds and Investment Funds.
It is the technological partner that facilitates the process for attracting, advising and retaining clients by adapting to their business needs and to regulatory compliance.
Refinitiv (formerly the Financial and Risk business of Thomson Reuters) is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime