First Rate Announces Investment in New Innovation Lab for Enhanced Solutions Strategy and Development

ARLINGTON, Texas, March 30, 2021 /PRNewswire-PRWeb/ -- First Rate, a leading provider of financial technology and services to the wealth management industry, today announced an investment into its first global Innovation Lab located in Pune, India. The Innovation Lab focuses on producing and delivering innovative solutions using emerging technologies such as artificial intelligence and machine learning to solve key unmet needs in wealth management: data consumption and consolidation, intelligent analytics, technology infrastructure, and system integration.

First Rate's Innovation Lab will help wealth managers create machine learning technology that solves their most complex data issues while allowing them to use actionable insight to drive overall investment strategy. This approach enables wealth firms to rely on technology and free up resources dedicated to manual processes, which allows more time for building relationships and scaling their businesses.

"The WealthTech ecosystem is ever-changing and growing. First Rate is leveraging the power of Artificial Intelligence in Automated Analysis and Reporting by using Natural Language Processing and Natural Language Generation that can describe underlying data in simple English," said Nayan Madhamshettiwar, Manager of Reporting and Analytics at First Rate. "Wealth managers can leverage this approach to automate client reports and serve clients market insights on-demand."

Nayan Madhamshettiwar, an innovative leader in information technology and wealth management with a track record of fast development and deployment of solutions, leads this team of digital innovators. The data scientists, solution architects, and software engineers on this team have deployed five new solutions to the marketplace that solve some of the most complex data problems:

• Acquiring and consolidating data
• Ingesting unstructured and structured data from different sources
• Enhancing Institutional analytics and metrics
• Delivering new agile solutions fast, such as Goal Based Reporting and ESG Investment Products

"Over the last few years, First Rate has embarked on internal initiatives to explore the fields of artificial intelligence and machine learning when applied to investment performance and reporting," said Bo McWiliams, Chief Technology Officer at First Rate. "Our investment in the Innovation Lab has been very strategic in helping us accelerate those initiatives from ideas to market-ready products. The team's deep expertise has been honed by working with the largest wealth management firms in the world. We're excited to have these additions to our team to assist us in creating new digital experiences and providing cutting edge insights to our clients today and into the future."

Madhamshettiwar comes to First Rate with more than 10 years of experiencee in presenting, developing, and implementing large-scale digital transformation initiatives for top global wealth management firms. Collaborating across multiple marketplaces, Madhamshettiwar has conceptualized and implemented digital factories using artificial intelligence, machine learning, and natural language processing. His extensive background includes building investment portfolio strategies to leverage AI long/short-term memory models to generate better risk-adjusted returns for Pension Funds, Endowment Funds, UHNWI, and individual clients.

For more information about First Rate's Innovation Lab, please visit http://www.FirstRate.com or email [email protected].

About First Rate
First Rate exists to help wealth management companies grow and thrive as stewards of their clients' investments. Our innovative services and solutions help financial firms create absolute transparency, enhance efficiency, and empower advisors to create more meaningful and intelligent investment strategies for their clients. It's technology as it should be. First Rate's flexible and intelligent solutions adapt to the evolving demands and complex challenges of the wealth management industry. With a proven track record including more than 30 years of experience, our relentless focus on meeting the diverse needs of our partners is unmatched in the industry. Through data aggregation, performance calculation, compelling client reporting, and intelligent data analytics backed by a powerful AI engine, our innovative technologies enable wealth managers to grow their business by enhancing efficiency and providing strategic value to investors.
Website: http://www.FirstRate.com
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Media Contact

Timothy Welsh, Nexus Strategy, LLC, 415-847-4874, [email protected]

SOURCE First Rate