Sramana Mitra: Do they belong to the Boston group? Skip Smith: No. I can’t say where they are based, but it is west of the Mississippi. SM: Tell me more about this Boston pocket of entrepreneurs.
Sramana Mitra: And they don’t have mature markets and trading platforms. Skip Smith: And the data is kept in spreadsheets. There is no enterprise system that is housing this data. You have all these sources of manually created data, which we know has errors in it, and it gets aggregated into the central source. I
Sramana Mitra: And your point is that with the cloud delivery model, the smaller fund managers are able to comply and keep up with these regulatory needs by using a service like yours to be able to do this at scale? Skip Smith: Exactly. It levels the playing field. To your point earlier about other
Sramana Mitra: So the fund managers actually make the investment decisions and all the fundamental work, but the administrative work is handled by these global service providers, and you provide these service providers with their data management needs. SS: That is exactly right. There are large self-administrators – very large asset managers who choose to
Sramana Mitra: Would it be fair to say that your primary expertise is in providing cloud-based solutions in the domain of regulatory compliance in the fund management space? Skip Smith: No. I think we are really a data management solution provider. That is where our fundamental expertise is. We are merely migrating to the cloud,
Skip Smith is the chief operating officer of Confluence. Skip has more than 25 years of experience as a technology & operations executive, having studied at the University of Maryland, and he has worked for companies such as Fiserv, JPMorgan Chase and PricewaterhouseCoopers. In this interview he talks about Confluence’s value proposition in the financial