Below we've tried to answer various questions that have been asked about our company and products so far. We'll keep this list up to date and expand it over time, but if you have a burning question that isn't answered below please get in touch!
Questions about FINBOURNE
Questions about LUSID
What does your company build?
FINBOURNE's LUSID platform is a cloud-based repository for Asset Managers' data. All of it! It is an API-First technology platform for investment firms to manage their portfolios accurately and efficiently. We enable easy integration to existing platforms and an open architecture aimed at reducing end to end integration costs for our clients.
We have spent a long time thinking about it and we have come up with a system that accurately reflects the timeline of events as they happened to your data. More importantly, you can wind back that series of events to see what it looked like at any point in the past. With our model you can even apply corrections to history and decide how long they have an impact for.
We have also built-in capabilities to create data in multiple namespaces (think folders on your pc) and permission it appropriately.
Who owns FINBOURNE?
FINBOURNE Technology is a privately held company founded in the UK in 2016 by some of our team. We’ve taken investment from a mix of institutional and personal investors, though the company’s staff still hold most of the stock. More information about the founders can be found on the Team page, how we got started on the About Us page, and about our investors and partners on the Partners page.
What is different about FINBOURNE compared to all the other FinTech companies?
It seems we are fairly unusual in that we are concentrating on the 'buy-side' that is to say asset owners, managers and servicers.
Who are you building your product for?
Anyone who wishes to make better investment decisions informed with better data and at a lower cost.
Why should I want to work for your company?
We are an early stage company with excitement and a vision with huge scope. We're an experienced team, working with cutting edge technology and some of the world's biggest companies. If you like the idea of building global scale products to be proud of, building a company and culture that makes coming to work exciting, and bringing actual change to the world, then this is a place for you.
Does FINBOURNE have any products other than LUSID?
No. Currently, we’re directing all of our efforts towards building the world’s best investment technology system and working with our partners to help them deliver their world class technology on top of it. However, our mission to 'Liberate and Simplify' has identified targets in financial and business technology which will receive attention in years to come.
What does LUSID stand for?
Liberated Unified Secure Investment Data Machine. For more information see our LUSID page.
What do you mean by Liberated™?
FINBOURNE aims to free our clients from the constraints of vast data technology burdens and frees Asset Managers to focus on their core competency.
Who in my organisation can use LUSID?
Everyone. Whether you’re evaluating opportunities, reconciling numbers, monitoring organisational performance, or performing regulatory duties, we believe LUSID can dramatically simplify your workflows. Front, Middle and Back office functions should naturally be users of LUSID.
The control over who has access to LUSID within your company is entirely up to you. Whether you wish to leverage your existing identity system or take advantage of LUSID’s identity management tools, the decision to activate access to the system is in the hands of your chosen account administrators.
How do they use it?
LUSID is built as an API first system, which means you can access any data or function through our standardised APIs. Most humans don’t speak ‘API’ though, so we’ve created a powerful set of tools on top to help our customers to easily and quickly take advantage of the LUSID technology. Depending on your users’ and organisation’s requirements you could use our powerful web-based tools, our Excel plugin or a blossoming array of community implemented plugins. If your organisation has a special workflow or necessary integration, we publish Software Development Kits (SDK) and detailed documentation to help you easily integrate LUSID into your company’s workflow.
How do I pay for LUSID?
FINBOURNE is committed to offering a billing model that suits our customers’ ambitions and expectations, and allows us to grow as a company. We will not seek to lock in customers to multi-year contracts with large up-front payments. Nor will FINBOURNE force regular and expensive upgrades nor penalise our clients for their success. Our only “customer moat” is that we think our customers will benefit from LUSID technology. If you’d like to know more please feel free to get in touch.
What is your build/rollout plan?
We plan to roll it out as fast as possible. We are currently working with a group of specialists from the industry to help us define what good looks like for everyone. We will keep you posted on when we reach our product milestones.
What is your Unique Selling Point (USP)?
We are fortunate to have the chance to apply years of experience building cutting edge scalable systems for the world's largest banks combined with the unprecedented scale of cloud to LUSID. It gives us the chance to change how people think about their whole business and how the techniques available to us can really help improve the amount and quality of information available to Managers in order for them to make better decisions.
We offer a cloud based open ecosystem of tools designed to help professionals manage their client's investments.
Would LUSID run on the cloud or on my firm's computers?
LUSID runs exclusively in Amazon Web Services (AWS), so in the cloud. We believe that leveraging the advanced technology and scale of cloud infrastructure will help us deliver the best possible experience to customers. Depending on your requirements, we can deploy in either single or multi-tenant cloud environments. For more information as to which type of deployment works best for your organisation get in touch.
While LUSID is cloud-based, the applications you use to interact with it may not be – for example if you’re using our Microsoft Excel plugin, that lives on your computers though it communicates with the LUSID servers.
Presumably I must pay when LUSID is updated?
No! You don’t pay (or even know) when Google or Facebook are updated and neither will you with LUSID. We’re building a system to expedite and streamline the delivery of functionality to our customers. The faster we can get new capabilities into the hands of our users, the faster they can benefit from them. Gone are the days of costly upgrades and having to tolerate using old versions of software.
We’re an experienced team and we know that our customers and their organisations depend on us, so while we’re eager to release features, we’re rigorous about software quality, testing and protecting our users from being negatively impacted by change.
We’ll keep you up to date with changes through several mediums and will provide lots of notice if we decide to make a change that we think might affect your business.
Isn't storing transactions and clients' data on the cloud intrinsically more insecure than storing in-house?
No it’s not. As we speak about in our Security page, storing confidential data anywhere is hard and an ongoing challenge especially in today’s threat-filled reality of hacking, leaks and the all too common human error. Depending on your physical and technical security protocols, the vigilance of your security team and the organisational processes you have in place, you may or may not receive an additional gain in security from our efforts. What we offer is a dedicated team of security experts focused on constantly ensuring the highest levels of security. On top of this is the world class physical security provided by Amazon Web Services, (AWS) possibly only exceeded by military grade installations, and the advantages of a product built from the ground up with security in mind.
What do you mean by persistive bi-temporality?
Bi-temporality means that LUSID tracks two time dimensions for the data it stores: In the following example the first dimension is the trade date of a trade, the second dimension is the date at which the data was modified. E.g. If you enter a trade on Monday with 100 units. Then on Tuesday afternoon you realise you made a mistake when entering the data, you actually have 200 units, so you correct the data. On Wednesday if you wanted to see how many units you held, all you know with current systems is that you have 200, your institution will have lost the knowlege that for several hours it had the wrong information.
By tracking bi-temporality and versioning all the data, LUSID allows you to see the data as it is now, and as it was on Monday night, Tuesday morning or any other time. Bi-temporality acknowledges that data changes do happen, and that those changes are often retrospective in nature. That, coupled with our versioning system, means you can see what your data looked like at any time.
What is a data machine?
At its core, LUSID is a platform which stores and calculates your investment data. We call it a machine to convey the idea that it is active, constantly updating itself with the latest information.