Xenomorph Receives Funding from HSBC to Accelerate Growth
Xenomorph, a provider of data management technology to banks, investment managers and insurance companies, has announced a significant new funding agreement from HSBC. The funding has enabled the business to accelerate global go-to-market plans for its TimeScape EDM+ financial analytics and data management platform.
TimeScape EDM+ is designed to manage the complete lifecycle of financial data across integration, derivation, storage, validation, cleansing, audit, analysis and distribution. With HSBC’s support, the company is now in a position to market the new software across the globe and has already achieved successful contract wins.
James Patterson, HSBC’s Area Director for Business Banking in the City of London, said: “It was critical that Xenomorph had access to reliable financing. Our team was able to provide this support with a flexible package and it is hugely rewarding to see the business already winning new clients.
“The funding comes from our commitment to lend £2.5 billion to SMEs this year and Xenomorph is a brilliant example of how this can be used to support the booming London fintech sector.”
Brian Sentance, CEO at Xenomorph, added: “It has taken a significant amount of time and business and technical expertise to successfully launch TimeScape EDM+, our comprehensive solution for analytics and data management for risk. That investment is now reaping significant dividends and benefits for our clients and for us. Data management remains a crucial function for all capital markets firms – especially in light of the regulations our clients and the market need to address. TimeScape EDM+ supports trading, investment and risk management operations through its flexible and high-performance architecture, it also comprehensively addresses regulatory-driven initiatives such as the Basel Committee’s Fundamental Review of the Trading Book (FRTB) and BCBS 239. HSBC’s support proves to be a great help and accelerator as it has allowed us to continue to invest in the success of the company.”
Xenomorph believes that great decisions are made when everyone can easily access and analyze the same high quality data. Based on this belief, we develop software solutions for financial markets that enable both technologists and business users alike to manage, cleanse and analyze more data, more quickly. These solutions include an Enterprise Data Management system, TimeScape EDM+, a cloud-based data publishing service, TimeScape MarketPlace and our underlying data and analytics technology platform, TimeScape. Trading, research, risk, product control, IT and back-office staff use these solutions at investment banks, brokerages, insurers, hedge funds and asset management companies worldwide. Established in 1995, Xenomorph has offices in London, New York and Singapore.
For more information on Xenomorph, our clients, services and solutions, please visit www.xenomorph.com.