Sinan A. Biran, Business Development Manager, Canopy What Problem is your product or service aiming to solve?
Canopy is a private & anonymous wealth account aggregation, portfolio analytics and client reporting platform for High Net-Worth Individuals and their Wealth Managers.
Our client segment is PBs, FIMs, EAMs, MFOs, SFOs and they have a multi-asset class, multi-bank, multi-currency, multi-geograph aggregation problem. Moreover they also spend a lot of time and money on cleaning and enriching the data they acquire (Back Office). And finally, when it comes to make sense of that data they cannot slice and dice it and visualize it in the exact way they want it since most of the software applications out there are restricted.
Canopy addresses all of these challenges where we aggregate data in whatever shape and format, we provide a full BPO, and provide fully customizable wealth reports / analytics for every single individual client.
What's happening in the industry and why is the solution compelling?
The WealthTech market which typically addresses the Wealth Management and Private Banking sectors is somewhat growing, particularly in ‘’visual suspect’’ regions i.e. US, Singapore, Hong Kong, Switzerland.
However, most tech companies are overpromising and underdelivering the ‘’tech’’ part. And they don’t even touch the surface when it comes to the ‘’wealth’’ part since they lack industry expertise (i.e. financial markets & etc.).
Which is a problem for the industry because there are many disappointed buyers (i.e. Private Banks, Independent Financial Intermediaries) who place their trust and money with these providers and eventually they lose their trusts in the ‘’WealthTech’’ players in general.
What sets us Canopy apart is;
(a) First and foremost, we come from the industry;
• Canopy consists of ex-bankers, former consultants (who are specialized in capital markets), and techies.
(b) We focus on the part of your business that touches the customer and is therefore revenue generative;
• i.e. ensuring that customer's data in any format is able to be processed and any output that the customer sees is of exceptional quality).
(c) At our heart we are a data company;
• We take data in any format and cleanse it (i.e. create a single golden source of data),
(d) You get full access to this golden source;
• read and write, you can use it as you see fit (there are no restrictions on it from our side).
(e) We support any type of visualization of data;
• and reports can be created by your team without any problem as well.