Prestigious listing represents Scivantage’s continued market growth and success
JERSEY CITY, N.J., — Nov. 6, 2013 — Scivantage®, an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting and wealth management applications, announced today its ranking on the FinTech 100, an annual international listing of the top vertical technology vendors that derive more than one third of their revenue from the financial technology industry as named by American Banker, Bank Technology News and IDC Financial Insights. This year marks the first time Scivantage appears on the FinTech 100, coming in at number 97.
The past year marks several significant announcements for the firm, including its partnership with Broadridge Financial Solutions(NYSE:BR) to deploy Scivantage Maxit® across Broadridge’s clients. Additionally, Scivantage released a variety of innovative solutions to the marketplace throughout 2013, such as the launch of its new HTML5-based mobile brokerage platform, Investor Mobile, and the immediate availability of investment apps for iOS and Android devices; the launch of Maxit® RDS, a fully supported, replicated data warehouse that is designed to significantly reduce manual processes and to eliminate the need for ongoing reconciliation between the Maxit database and internal client systems, and its acquisition of Portfolio Director, a leading supplier of investment management technology products, from Scottrade Financial Services, Inc.
Many of the nation’s leading and emerging financial institutions―including 12 of the top 24 online brokerage firms, two of the top three independent brokerage firms, six of the top eight full service brokerage firms, three of the top seven U.S. banks, the number two asset management firm in the world, and three of the top five prime brokerages―rely on one or more of Scivantage’s unique back-office-agnostic software and services to generate new revenue and build stronger customer relationships. Scivantage is also one of the fastest growing private companies in the U.S., underscored by both its listing on the Inc. 500/5000 Fastest-Growing Privately Held Companies list for seven consecutive years and double-digit revenue growth nearly every year.
“We are honored to be recognized as one of the leading providers of technology solutions to the financial services industry,” said Adnane Charchour, President and Chief Executive Officer of Scivantage. “Our ranking on this prestigious list underscores our teams’ commitment to deliver intelligent and actionable information that goes beyond the boundaries of traditional financial software. This year, we have made significant investments in developing new technologies that allow our clients to perform with greater agility and to achieve critical business insights in order to deliver unparalleled service to their customers.”
Each fall, American Banker, Bank Technology News and IDC Financial Insights publish a comprehensive Fortune 500-style ranking of the hardware, software and service providers to the financial services industry. The ranking of the top vendors is categorized and evaluated based on calendar year-end revenues and the percentage of revenues exclusively attributed to financial services. Data is gathered from surveys completed by vendors, as well as original research and market analysis conducted by IDC Financial Insights.
Scivantage is showcasing its technology solutions in booth #3067 at the 2013 BAI Retail Delivery Conference this week in Denver, Colorado.
Scivantage is an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting, and wealth management applications that automate and integrate key business practices for broker-dealers, mutual funds, custodians and prime brokers. From trade order processing and account management to comprehensive cost basis reporting and automated account opening, maintenance and funding, Scivantage’s back-office independent solutions enable financial institutions and financial professionals to dramatically reduce operational costs, strengthen customer relationships and improve productivity. For more information, please visit www.scivantage.com or contact us at +1.866.724.8268.
Enabling Financial Transactions. Automate. Connect. Transact.