San Francisco, August 13, 2019 – VendEx Solutions, a San Francisco-based SaaS company with offices in London, New York, and Charleston, SC, announces the launch of VKey, the first product to come to market in its centralized utility for financial services market data since the company was launched in January 2019.
VKey leverages artificial intelligence technology in conjunction with machine learning techniques as tools for VendEx Solution’s data team to extract up to 317 embedded terms from market data contracts, including not only standard business terms but complex data and analytics usage rights. This information is then made available for market data vendor managers and end users to corroborate compliance and internal controls with contractual terms and conditions of data usage of specific services.
The project lead for one customer stated: “VKey will help us to more efficiently manage our market data contractual terms. This is critical with today’s data management challenges and will be instrumental in helping us comply with the myriad of various market data and analytics usage terms supplied by our vendors. We are delighted to support the latest innovations and cutting edge technology in addressing these challenges.”
“We worked closely with industry partners to define our feature set for VKey, with the goal of creating an industry utility for data management contract intelligence,” said Richard Clements, CEO of VendEx Solutions. “This is the first of our products to launch in the development of our integrated suite, we are thrilled to announce that we have successfully onboarded our first customers in our paid pilot program and are continuing to work with our industry partners to rapidly bring the rest of our solutions to market. This tool not only services the buyers of data and analytics, but also benefits the vendors themselves. This is the first step in VendEx Solutions becoming the centralized hub for the financial services market data industry.”
About VendEx Solutions
VendEx Solutions is re-engineering market data and vendor management, helping financial services firms face today’s challenging environment. Working closely with our global client base, the VendEx Solutions team is constantly designing and deploying leading edge platforms to meet the demands put on market data managers. VendEx Solutions is a Fintech member of the UK Investment Association’s Velocity program. Velocity is designed to identify, develop and accelerate best in class firms with innovative solutions, facilitating the adoption of technology within asset management and capital markets. Headquartered in San Francisco, VendEx Solutions serves global financial services companies from offices in London, New York, and Charleston, SC.