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Financial services cloud

Case Study: Fiduciary Technology Partners Chooses Logicworks to Manage its Cloud Infrastructure

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Download a PDF of the Fiduciary Technology Partners case study here.

Fiduciary Technology Partners (FidTech) offers a Software-as-a-Service platform that nonprofit foundations and endowments use to manage their investment portfolios. When Founder & CEO Sam Whittle sought to expand FidTech’s client base and scale their infrastructure, he chose to partner with Logicworks, a Managed Service Provider specializing in cloud-computing and Infrastructure-as-a-Service.

With a background in institutional investment management, Whittle noticed a gap in the available products servicing the industry. “Financial technology and Software-as-a-Service were beginning to provide tremendous advantages to the world of investment banking and asset management,” said Whittle, “but in the nonprofit world, endowments were managing hundreds of millions of dollars via spreadsheets and legacy systems.” FidTech set out to bring the latest investment management technology to community foundations.

Efficiency and Expertise

As his team built the new platform, Whittle sought out a vendor to manage backend IT systems. “We wanted a partner who would take responsibility for the infrastructure management component of our business and allow us to focus on application development and the needs of our clients,” said Whittle. FidTech embarked on a procurement process using the Gartner Magic Quadrant as a resource to discover the leading Managed Service Providers in the industry. Gartner listed large companies like Accenture, as well as boutique firms like Logicworks.

“We needed a highly technical and flexible approach” said Whittle. “Logicworks demonstrated both a higher level of understanding of our needs and a more clearly defined process than the larger companies we vetted.”

Solution

The result has been a successful product for FidTech that today powers investment management for community foundations, hospitals, faith-based organizations, and university endowments, as well as philanthropic programs for large corporations. FidTech’s platform allows these groups to manage their investments on an omnibus basis to achieve economies of scale, while still tracking each donation on an individual level.

The platform also integrates with financial institutions including broker / dealers, asset management firms, and financial custodians for seamless management of the funds The need for an MSP partner was particularly clear in security and compliance.

“Reporting and regulatory requirements in today’s financial landscape require a whole different level of transparency,” said Whittle. “With the controls Logicworks put in place, we were able to meet the all the compliance requirements of our clients without question. In many cases we were actually preempting their concerns with proactive approaches to information security.”

Logicworks assisted FidTech through their migration, providing an outsourced security and network design consulting service. Logicworks then configured the entire infrastructure including security tools like firewalls, VPN, and network subnets, access levels based on privilege, backups, DNS, as well as compute and storage resources. Once the migration was complete, Logicworks took responsibility for supporting the environment.

Logicworks provides a 24×7 Network Operations Center that responds to any incidents that come up which might impact clients. Logicworks also handles patching and updates, backups and disaster recovery, and database clustering.

Fiduciary Technology Partners has shown rapid year-over-year growth and now stands as a leader in investment management for the nonprofit sector. Logicworks has become an indispensable extension of their IT team. “After working with Logicworks, we wouldn’t consider another vendor,” said Whittle.

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