At TSAM London, Nick Taplin from NeoXam centered on two topics that are currently top of mind for financial professionals: AI and the growing complexities of private markets. Noting that AI is a universal subject, clients are keen to understand how NeoXam will incorporate the technology into their products while ensuring compliance with existing AI policies
Beyond AI integration, there’s significant demand for solutions addressing private markets, specifically, how firms can get a comprehensive, “whole of book” view of their assets. As more people move into areas like private equity and private credit, they are finding it difficult to manage unstructured data and achieve a consistent, holistic view across all asset classes.
NeoXam is addressing this by developing tools that use AI to extract structured, usable data from unstructured values. Additionally, their products include a data model designed to harmonize all these different assets for processes ranging from data management to accounting and reconciliation. Taplin stressed that they work closely with clients to replicate and integrate their existing operational processes into NeoXam’s automated systems.
NeoXam’s automation offering is making a real difference by replacing what used to be heavy, manual workloads, particularly in data management and reconciliation. Taplin highlighted some powerful results: major fund administrators have been able to handle an additional 25,000 reconciliations without needing to increase their headcount.
By completely automating tens of thousands of manual processes every day, staff can be redeployed to more valuable, high-impact tasks, such as investigating significant data breaks, engaging with counterparties, and offering better customer service. For customers who engage now, Taplin estimated that most implementations occur within six to nine months, meaning improvements should be noticeable before the end of the year.