Orion, a wealth management technology provider, is collaborating with Snowflake, a technology firm specializing in artificial intelligence-based data management on the cloud, to help financial advisors better access data across all major cloud infrastructures.
The initiative aims to enhances data access and flexibility for Orion clients, according to the announcement. This includes bringing “just-in-time” reporting to financial advisors, enabling organizations to search for and use data without the need to move or duplicate it.
The Snowflake technology will be available to a beta group of clients in the second quarter, with general availability to be announced later.
“Advisors have told us that cloud platform flexibility and real-time data access are critical for their success,” Adam Palmer, vice president of strategic product development at Orion, said in a statement. “We’re creating a more powerful and versatile data ecosystem that positions Orion as both a provider and consumer of actionable data.”
Palmer added that the collaboration will enhance Orion’s ability to offer timely market, custodial and operational insights — in turn allowing advisors to grow their businesses and better serve their clients.
Rinesh Patel, global head of financial services at Snowflake, said that Orion’s introduction of Snowflake expands client firms’ cross-cloud compatibility, allowing advisors to securely access and analyze real-time data within their own preferred systems while eliminating inefficiencies and the need to navigate new tools. Additionally, Snowflake’s integrated security measures enable advisors to maintain compliance with industry standards.
“Through further collaboration between Snowflake and Orion, we’re enabling advisors to more efficiently access data via a near-real-time data stream, as well as centralize both structured and unstructured data in a single location, enabling deeper portfolio analytics, faster insights and more informed decision-making,” Patel added.
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