MoneyMate today unveiled the new name and logo of their Solvency II Look-Through and Data Utility as Silverfinch.
Silverfinch is a fund data utility that creates connectivity between asset managers and insurers in a secure and permissioned manner. It allows insurers to comply with Solvency II regulation, and for asset managers Silverfinch enables them to manage and carry out requested look-through in a timely and controlled fashion.
The decision to rebrand the Solvency II Look-Through and Data Utility as Silverfinch comes at a time when the EU directive has confirmed that implementation for Solvency II as 1st January 2016. Commenting on the rebrand John Dowdall, Managing Director “Silverfinch is part of the MoneyMate group, but as Silverfinch provides a very different product offering than current MoneyMate products we felt that it was important that the rebrand reflects the independence and uniqueness of this product as an industry utility.”
Along with the rebrand there has also been substantial enhancements made to the product offering including a fully secure and permissioned look-through tool, automated fund portfolio matching and an easy to use interface. “Silverfinch has been modified to meet the needs of the industry, which are the requests to carry out a full look-though on holdings data and Solvency II reporting, Silverfinch adheres to the industry standard data model for exchange of data.” adds Paul Fawsitt, CEO.