ZILO, the UK based Fintech company, announces the go-live of its SaaS technology platform for global transfer agency services.
ZILO has a mission to transform the global transfer agency market improving the technology of custodian banks and outsourcing organizations “thereby enabling them to offer more efficient services to their asset and wealth manager clients.”
The UK go-live is a significant milestone for ZILO, which has, “for several years, been conducting research and building the platform to get to this stage.” The timing of this go-live coincides with the increased requirement “for UK firms, among other things, to demonstrate value for the benefit of their investors.”
Over recent years the pressure on revenue margins “has been a constant.” The consequential challenge to asset and wealth managers “has been to adapt their operating model to accommodate the new digital age and address the cost to serve.”
The go-live of ZILO is a significant step in this journey and will “facilitate the move of the traditional outsourcing firms from legacy technology and operating models into a more efficient and substantially more cost effective operating platform.”
ZILO’s SaaS technology offers clients “a global cloud based Transfer Agency solution, delivering a single consistent platform across multiple jurisdictions.” This is a departure from some legacy solutions which “can be more monolithic with narrower jurisdictional focus.”
Launching first in the UK, for the benefits of global and regional organizations based there, ZILO is continuing the expansion of their global platform “with fund coverage which will include Luxembourg, Ireland and Asian capabilities in 2024, with further jurisdictions scheduled for launch thereafter.”
Andrew Wilson, Chief Commercial Officer, said:
“The more we have spoken with potential customers, the more they have re-iterated the need for innovation in technology, services and costs for this part of the industry.”
ZILO was founded in 2020 by Phil Goffin, a serial Fintech innovator. The Company has grown comprising experienced financial industry talent “across all disciplines.”
Phil Goffin, Chief Executive Officer of ZILO, said:
“We are excited to have gone live with ZILO’s new technology following three years of extensive research, significant investment and independent product development. We have a highly experienced and skilled technical team, based in the UK and Asia, that have built an entirely new modular system so we can work with Custodian Banks, other servicing organisations and those scale Asset Managers that favour technology solutions versus outsourcing, creating a new platform of choice for the industry.”