Hudson Fintech Expands Product Offering with 1066Now
Posted by Colin Lambert. Last updated: July 12, 2021
Capital markets technology firm Hudson Fintech has partnered with 1066Now, an Oracle Partner, to make the Hudson Edge platform available to financial institutions using Oracle’s suite of products.
Under the strategic partnership, 1066Now’s Banking Integration Application (BIA) will enable adoption of the Hudson Edge platform for financial markets’ institutions across a wide range of use cases and applications. The Edge platform resolves the issues faced by financial institutions when seeking flexibility, product enhancements, lower costs, faster deployment cycles and independence from fixed data models.
“It was always our vision to extend the Hudson Edge platform to encompass a wider set of solutions outside our core products in the areas of repo and alternative asset management. A recent example was the launch of the Hudson Trade Hospital for post trade optimisation,” says Michael Walliss, CEO of Hudson Fintech. “This shows the power of the Hudson Edge platform, where we are able to apply its unique features to a wide number of different use cases, which help leverage existing and installed components that financial institutions use as a core part of their businesses.”
John Collett, founder and CEO of 1066Now, adds, “We see numerous benefits for our clients utilising the unique entity components system (ECS) architecture offered by the Hudson Edge platform, as we include it within our BIA solution. This partnership solves many issues faced by financial institutions, using both on-premise and hybrid cloud technical architectures.””
Hudson says it is the first fintech to use ECS, an advanced system architecture, in capital markets. It says it supports a flexible data model and independent workflows, which allows for the adding and upgrading of functionality without impacting the existing code base, hence requiring minimal testing, while always adhering to coding best practices. This means the software will be extendable, easy to maintain, and cost-effective in years to come rather than evolving into a costly and unmanageable problem.
1066Now BIA is an integration and enablement solution that utilises Oracle middleware technology for integration, performance and availability to provide the most robust and respondent capabilities needed for financial systems and applications. This approach provides economies of scale to reduce cost across the enterprise.