The Quintessential Technology Source for Corporate Financial Professionals

Are you aggregating or being aggregated?

Sinan A. Biran, Business Development Manager, CanopySinan 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.
(f) You can slice and dice the data in any format for full customization;
• every client of yours can get their own customized reports.

What is the use case, what is the problem that need to be overcome?

Both Private Clients (i.e. UHNWIs) and Institutional Customers (i.e. External Asset Mangers) have the same problem sets with slight nuances;

Canopy is a private & anonymous wealth account aggregation, portfolio analytics and client reporting platform for High Net-Worth Individuals and their Wealth Managers


(a) Consolidation of assets;
• assets are custodied in multiple banks, in different regions and in ‘’non-standardized’’ formats.

(b) Backoffice is expensive and painful;
• someone needs to acquire, consolidate, standardize, clean and enrich the data before you can analyze it.

• Missing corporate actions, fixing data feed issues, aaggregating data from various sources, processing physical Bank Statements (i.e. e-PDF or Paper) where APIs are not available & etc. are extremely time-consuming tasks since they are done pretty much handled manually these days by the backoffice staff, hence are error-prone!

(c) Customized Reporting;
• ‘’One size does not fit all!’’ in Private Banking / Wealth Management.
• Your clientele is unique, and they all have their own ideas on how their portfolio data should be visualized.
• Canopy provides fully customizable reporting for every single individual client in the exact way they expect it! (thanks to its Tableau BI integration).

What makes your product or service unique, differentiated, special or gives your team a competitive advantage?

Our core competency is to convert any type of Investment Data into User Insights;

• ‘’Investment Transactions from ANY source’’

o Real Estate, Private Equity Holdings in Spreadsheet
o Bank Statements in PDF format (usually monthly)
o Data dump from a Bank’s bookin system
o Daily datafeed as API, SFTP or similar

• ‘’ANY kind of Analysis’’

o Holdings, Risk, Performance, Profit etc.
o Financial and Tax statements, Regulatory Filings
o Insights, Alerts, Peer & competition analysis
o Big Data, Customer Behavior analysis & etc.

• ‘’for ANY type of User and for ANY use case’’

o Monitor client accounts, provide proper advice
o Aggregate Bank statements in PDF format ( usually monthly)
o Look for insights in data, peer comparison etc.
o Regulatory filings Tax calculations etc.

Any relevant achievements? Any relevant awards? Any relevant information that hasn't been covered?

We have won the best Data Analytics Solution back to back in 2018 and 2019 as per APB Awards .
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