ISITC Partner Q&A – Tegra118

Who is Tegra118 and what do you do?
Tegra118 (formerly Fiserv Investment Services) is a leader in wealth and asset management technology, with a vast network of asset managers, broker-dealers, custodians and trading interfaces. We partner with clients to deliver powerful solutions that set a new standard for how people interact with, manage, and grow their wealth. Our focus is around portfolio management, trading, accounting, rebalancing, and reporting. Additionally, we specialize in providing Institutional Asset Management firms with advanced fee billing, performance calculation and post trade execution solutions.

We put our decades of industry expertise to work for our clients, placing them at the center of everything we do and relentlessly pursuing new opportunities to better serve their needs. Together with our clients, we push the boundaries in wealth and asset management technology – today and every day.


What are some of the main challenges you are seeing in the industry today?
Currently, one of the most common yet overlooked challenges is the complexity of our industry’s billing system. Having a system that can handle the multitude of intricacies across all work streams is essential. Even so, many firms still struggle with outdated, manual billing systems or excel spreadsheet. A recent survey conducted by Tegra118 (Fixing the Leak, 2019) revealed that 80% of firms must reissue invoices and 50% of firms admit that reissuing invoices has a negative impact on their customer service and negatively impacts their bottom-line. We also found that 61% of firms only have a partially consolidated view of their revenue streams. This lack of visibility between systems has become an issue for firms when it comes to internal and regulatory reporting.


What are some concrete steps that firms can take to overcome these challenges?
A fully automated billing solution can offer transparency, accuracy, resiliency and certainty of reconciled data, while driving out errors and costly delays. The greater availability and adoption of streamlined technology is empowering investment and asset managers, sponsors, broker-dealers, and global custodians to securely manage revenue and bill clients who have highly complex fee schedules, regardless of asset class. Additionally, adoption of automation can help firms to reduce revenue leakage that’s traditionally plagued the industry. This automation also enables invoices to be sent to clients quicker, reducing the number of days outstanding for receivables while also ensuring clients are paid promptly and accurately.

Currently, market practices for billing and invoicing remain an aspiration—but by implementing a comprehensive billing, revenue management and reporting solution, firms will be equipped with technology that guarantees best practices, centralization and transparency into the billing life cycle so that they always meet compliance and SOX requirements.


Why do you partner with ISITC?
Tegra118 has been a proud partner and supporter of ISITC, a globally known and respected non-for-profit and member run organization since 2008. Tegra118 embraces ISITC’s mission to develop standards for financial services operations and technology, and ISITC’s efforts to heighten straight through processing (STP) rates.

As a member firm, Tegra118 has been a dedicated sponsor and supporter of all of ISITC’s Summits over the years. ISITC provides a wonderful forum for the financial services community to come together and openly share challenges, concerns and opportunities impacting securities operations and technology. This open dialogue facilitated through ISITC is what allows for collaboration and advocacy between Investment Managers, Global Custodians, Broker-Dealers and Vendors/Market Utilities so that the industry can reach operational resilience and universally accepted market and best practices. This is a shared aspiration and goal, we at Tegra118, will continue to contribute to and fully endorse.