Kurtosys Strengthens the Financial SaaS Offering for Asset Managers. Rackspace provides reliability for digital offerings in private cloud.
STRONG PROCESSES, CLEAR DATA FUEL FINANCIAL SERVICE SUCCESS
Already comfortable in the online environment, the next generation of global financial investors wants more than mere transparency from their advisory partners; they also seek meaningful connection with where the wealth is going.
Based in London (with offices in New York, San Francisco, Cape Town, Gurgaon, and India), privately held Kurtosys builds digital tools for asset managers to present essential data to their customers. Founded in 2002, the company supports the management of around $500B in investment, by offering customers robust infrastructure and outsourcing services.
Fund managers and some of the world's largest asset managers rely on Kurtosys to avoid unnecessary processes and reduce costs. Kurtosys offers various tools including client reporting, fund factsheets, fund tools and secure portal. With all its products hosted, Kurtosys develops APIs, web and mobile applications designed to give fund and investment service providers the ability to simplify and beautify financial information.
THE KURTOSYS SOLUTION POWERED BY RACKSPACE
Although Kurtosys executives identified the need for cloud early on, they were reluctant to move to a cloud infrastructure until more recently. Traditionally, Kurtosys had built classic web applications, installed on a threetier system with web servers, DMZ application servers, and database servers.
In 2007, the company began virtualising all of its servers. After analysing what the market offered and the direction it was heading, Kurtosys chose OpenStack® as its primary cloud solution. The next priority then became finding a global partner with OpenStack services.
Citing Kurtosys’ decision to go with OpenStack, Harry Thompson, Kurtosys CTO & Co-Founder said that company executives realised Rackspace “ticked a number of boxes on our list, namely that they are global, they are extremely service-oriented and have the ability to deliver in different jurisdictions.”
"Kurtosys already knew OpenStack well, and was seeking a global partner with the proper resources," says Sab Knight, Rackspace UK Enterprise Sales. "To grow and expand globally, they needed a stable platform and minimal risk. Rackspace fit that profile, and had a reliable track record of OpenStack success as well."
Since Kurtosys creates software for asset managers to showcase data, for maximal success the company needs the flexibility to scale to client requirements. "The cloud offers us that opportunity," said Thompson. "Since the information we're providing must be available at all times, the presence of Rackspace allows us to focus on what we do best, and Rackspace takes care of the infrastructure."
Much of Kurtosys' computational work is performed in short bursts on regular periodic cycles. The company may have workflow processes running intensively for two or three days a month and then shutting down.
With the help of Rackspace, Kurtosys is currently using NoSQL, MySQL, and Lucene ElasticSearch to boost responsive support. While Kurtosys still produces the traditional application that sits in front of the API, it also provides sample code that customers can integrate themselves into their own portals and use through other distribution channels.
SMARTER GROWTH AND A COMPETITIVE ADVANTAGE
For now, Kurtosys uses Rackspace services out of both the United States and the UK, with plans to expand shortly.
"Kurtosys found that by working with Rackspace they've got an extension of their team," Knight said. "They know the people looking after them on a firstname basis."
We are going through change and if we carried on as before our hosting costs would get out of control," said Thompson. "As we grow, we need third-party support. We work with Rackspace very much as colleagues, rather than as "client and supplier."
Kurtosys has the ability to standardise this environment in any of Rackspace global data centres. From Australia to Hong Kong to the UK, the company can - if a customer needs them to - deploy the exact same offerings with the same people and equipment through Rackspace operations.
"Customers are entrusting us with strategic outsourcing of part of their business, and although we are selling to a traditional market, we want to be disruptive and innovative," Thompson said. "By using cloud technologies, we stay ahead of the game. The complexity of our products means we have to build infrastructure. We can't do that alone, and Rackspace helps us ensure that we're in control and our procedures are always in place.