Diligend, a cloud-based asset allocator due diligence software provider, and eVestment, a Nasdaq company and a global leader in institutional investment data and analytics, announced an agreement that eVestment data will be available on the Diligend platform become.
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Diligend provides a flexible, secure, one-to-one data exchange platform that automates the various tasks and data requests that institutional investors and advisors frequently ask asset managers. The platform enables individual, periodic and ad-hoc data collection, which can be difficult to manage as the information is often linked to individual, static documents. Diligend’s tools transform this process by providing a fully custom, digitized and automated due diligence questionnaire tool combined with a fully featured workflow and analytics platform. The platform makes data requesting, data request distribution, and follow-up reminders easy to manage while automatically flagging responses, tracking changes, and aggregating data for benchmarking.
This agreement will enable eVestment and Diligend customers to complete a greater part of their due diligence process through one technology platform. The data and technology tools that facilitate this data exchange and the duty of care between eVestment and Diligend should come onto the market in the coming months.
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“Collecting and analyzing managerial data and documents can be challenging and arduous for investors,” said Wissem Souissi, founder and CEO of Diligend. âThe difficulty of managing the questionnaire distribution process and carrying out sufficient ongoing due diligence with limited resources restricts supervision and increases the operational risk for investors. Diligend solves this through data centralization and process automation. By focusing on eVestment, we have made the entire due diligence process more efficient and scalable. “
“Eliminating unnecessary work, risk, and complexity in the due diligence process provides opportunities for greater engagement between investors and asset managers and, ultimately, better results for the work they both do,” said Lisa Terwilliger, Head of Strategic Partnerships, eVestment Effort our network of technology providers for our mutual customers. “