Alternative Investment Exchange (AIX) Announces Integration with UMB Fund Services’ Systems

November 30, 2021

Alternative Investment Exchange (AIX) Announces Integration with UMB Fund Services’ Systems

November 30, 2021 | Alternative Investment Exchange (AIX)

Alternative Investment Exchange (AIX), an alternative investment technology firm that makes it easier for wealth managers and fund sponsors to do business in alternatives, announced the development of a direct data connection with UMB Fund Services (UMB), a national leader in registered and alternative investment fund administration. The direct data connection was developed with UMB that enables AIX to digitally transmit subscriptions and new accounts without costly manual intervention and reliance on paper-based processes.

“Alternative investments have always required a high degree of manual intervention. Paper documents, wet signatures, and PDF documents that must be re-keyed made it especially challenging to automate processes such as opening accounts and onboarding new customers,” explained AIX’s COO, Brad West. “With true digital, straight-through processing, AIX can move data seamlessly to UMB, minimizing NIGOs, reducing its administrative headaches, and eliminating unnecessary back-office costs.”

During the height of the pandemic and despite quarantine orders, many paper-reliant fund administrators were forced to keep offices open so that redemption requests could be processed, and compliance requirements were met. This underscored the inefficiencies of paper, and the liability risk for having business processes tied to such antiquated practices.

“UMB is committed to adopting the latest technology to enhance customer experience and support our growth,” explained Mike Huisman, SVP, Director of Transfer Agency at UMB Fund Services. “The pandemic accelerated our path in leveraging technology to automate our business, create efficiencies, and address risk and liability issues tied to paper and manual processes. Our vision, which has been realized by integrating with AIX, was to automate the subscription, maintenance, transfer, and redemption processes of alternative investments.”

Unlike other tools that only mimic a paper process by enabling e-signature and sending PDFs, AIX enables data flow across and into backend systems. The standard is data, seamlessly flowing across all parties, creating efficiency and transparency, all while reducing risk.

“Committing to this standard delivers an entirely different level of impact and experience. Automating backend manual processes through data connectivity removes friction felt by all involved, but is only fully appreciated by those that must otherwise manually stitch steps together,” explained West. “Partnering with UMB to create authentic data connections truly changes the game. We are experiencing low NIGO rates and enhanced compliance while advisors tell us they do not want to do business any other way. Everyone wins.”

About AIX:

Alternative Investment Exchange (AIX) is an end-to-end digital platform purpose-built to improve the processes related to buying, owning, and selling alternative investments. AIX’s technology reduces friction, mitigates risk, and creates value across all alternative investing stakeholder groups – wealth managers, asset managers, custodians, transfer agents, and fund administrators. By evolving beyond documents to make data the connective tissue between alternative investment players, AIX makes it easier to conduct business and accelerate industry growth. For more information, please visit aixplatform.com or LinkedIn: linkedin.com/company/aix-alternative-investment-exchange.

Media Contact:

Mark Tordik Broadpath (for AIX)
(215) 644-6503

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John E. Moriarty, ChFC
December 2015
February 3, 2016

I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture.  For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments.  Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients.  I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.