Tier1 acquires Satuite to expand CRM business to buy-side

Rick Steves

Tier1 is growing its portfolio of digital transformation and automation solutions in a progressively virtual and technology-reliant industry landscape.

Tier1 Financial Solutions has acquired Satuit Technologies as the provider of CRM, AML compliance, and fraud prevention solutions expands into the buy-side.

Satuit Technologies is specialized in CRM solutions for the asset management community. Its acquisition, which follows a prior deal with Investor Portal, underscores Tier1’s continued commitment to the digitalization of the entire client relationship workflow.

Tier1’s product suite will now expand to include a standalone, cost-effective CRM that is engineered for the needs of buy-side firms.

The firm’s out-of-the box product model now includes buy- and sell-side focused CRM, Investor Portal, KYC, AML, and fraud detection capabilities.

The addition of Satuit CRM and Investor Portal solutions for buy-side Asset Management and Wealth Management complements Tier1’s sell-side CRM platform for Capital Markets and Investment Banking.

Jiro Okochi, CEO of Tier1 Financial Solutions, said: “The addition of Satuit allows us to not only accelerate our expansion into the buy-side with Satuit’s dedicated end-to-end CRM and investor portal solution but also adds to our valuable ecosystem of sell-side banks and corporates. We look forward to investing in the Satuit product and providing an excellent customer experience.”

Karen Maguire, CEO and Founder of Satuit, said: “The asset management CRM industry has been in transition and consolidating for the last several years. This acquisition makes perfect strategic sense with Tier1’s focus on increasing penetration into the buy-side and Satuit’s strong asset and wealth management pedigree. We are excited to join the Tier1 team and look forward to delivering on the many benefits that this acquisition will provide.”

Karen Maguire will continue in her role as CEO of Satuit and will report directly to Jiro Okochi. Tier1’s CRM business will remain independent under the leadership of COO, Manish Patel.

Mr. Patel was appointed COO for the CRM business in February 2021, to be in charge of revenue generation, product management, client engagement, and technology operations.

Prior to that, he was Chief Product Officer, where he guided the CRM roadmap to launch a new packaged product model and accelerated delivery to address broader market demand.

Tier1 has recently integrated Refinitiv’s Equity Ownership data to provide premium, normalized holdings, profiles, and contacts data. Valuable intel on ownership trends and intelligence on investment managers, securities firms, and their key decision-makers.

Tier1 also launched a new pre-packaged delivery model to provide real-time and mobile access to secure, client intelligence, enabling firms of all sizes to build more profitable business relationships.

Read this next

Retail FX

Texas Slaps Forex Scam with Cease and Desist Order

The Texas State Securities Board (TSSB) is following through on its promise to crack down on online trading fraud.

Industry News

JPMorgan Chase to open its UK neobank next week

JPMorgan Chase, the biggest US bank by total assets, will next week launch its City’s digital-only bank, which offers a range of savings and loan products under its ‘Chase’ brand in the UK.

Retail FX

TIOMarkets UK reports $78,461 in 2020 revenues

TIOmarkets’ FCA-regulated entity reported its financial results for the year ending December 31, 2020. The company posted a revenue figure that was nine times the amount it reported in the fiscal year of 2019.

Technology

Equiduct deploys big xyt’s data analytics for equity market structure

“Banks, asset managers, exchanges and market participants across the globe consistently rely on big xyt as an independent reference for equity market structure”.

Retail FX

BDSwiss partners with PayRetailers to address payment landscape in LATAM

PayRetailers’ suite of payment options via single seamless API integration will be available for BDS Markets Ltd. only.

Digital Assets

Coinbase applies for NFA license while awaiting SEC lawsuit

A license from the National Futures Association (NFA) would open the door to cryptocurrency derivatives trading.

Industry News

Euroclear acquires MFEX to enhance offering for fund distributors and fund managers

This transaction brings together two highly complementary businesses.

Industry News

Madoff Victim Fund sends $568 million to 31,000 victims of Ponzi scheme

Bernard L. Madoff used his position as chairman of BLMIS to steal billions from his clients.

Digital Assets

Revolut uses Bitcoin to Pay for its office space

Revolut, the company that is looking to build a financial super app, has used bitcoin to pay for its largest office space in Dallas, Texas to the flexible workspace provider WeWork.

<