Investcloud Selected by Westwood Holdings Group, Inc. For Digital Transformation, Integrating Suite of Cloud-based Fintech Solutions

LOS ANGELES, Sept. 10, 2019 /PRNewswire/ --  InvestCloud, a platform for the development of financial digital, pre-integrated cloud solutions with $2 trillion+ in assets, today announced that Westwood Holdings Group, Inc. (NYSE:WHG), a leading investment manager to institutional investors, private wealth clients and financial intermediaries, has chosen to utilize the company's entire suite of products. 

Westwood will leverage InvestCloud's platform to expand its digital capabilities, to enhance data aggregation and warehousing and improve trade-order processing and accounting functions. Westwood will also benefit from improved performance analytics and true multi-currency/multi-asset class portfolios across all business lines.

An average investment manager typically works with more than two dozen different applications, often including legacy technology that has little-to-no ability to integrate with other financial software. As digital transformation continues in the financial industry, clients will require an integrated, all-digital solution that not only solves their needs, but also provides anytime, anywhere information.

With InvestCloud's modular and scalable software, Westwood expects to achieve an approximate 50 percent cost saving and reduce reconciliation time for all accounts by up to 80 percent. The company deployed InvestCloud's Overlay, Leverage, Replace (1-2-3) methodology seamlessly and quickly, replacing legacy accounting systems. Anticipated results include the elimination of annual releases and the centralization of all systems in one easily accessible location that supports domestic and international clients.

InvestCloud's financial digital solutions provide clients with intuitive financial platforms and an ever-expanding library of modular apps. The company's Programs Writing Programs (PWP) approach is a 'code generating code' methodology that enables InvestCloud's clients and third parties to build customized solutions.

"We chose InvestCloud because they are the only FinTech company that has solved the digital transformation needs of the investment management industry," said Fabian Gomez, COO at Westwood. "We have a philosophy of 'go digital or die' and wanted to do this without creating a massive IT department. InvestCloud is a modern, innovative solution that will enable us to grow and retain our clients while ensuring we have better operational efficiency within a single ecosystem. With our installation complete, we have successfully modernized and future-proofed customer interactions."