Apex Fintech Solutions, a US-based digital clearing and custody firm, has entered into a partnership with Google Cloud to advance its investment platform, Apex Ascend.
This collaboration aims to modernise operations such as trading, clearing, and custody services through the deployment of advanced cloud computing technologies.
Apex Fintech Solutions will utilise Google Cloud’s range of services, which includes an artificial intelligence (AI) stack and robust infrastructure, to enhance its capabilities in data management, security, and communications.
The joint effort seeks to address the needs of capital markets that have historically relied on outdated legacy systems for their custodial and trading services.
Apex Fintech Solutions CEO Bill Capuzzi said: “We’re thrilled to collaborate with Google Cloud because we’re creating a powerful synergy that not only accelerates innovation but also sets new standards for the industry.
“We’ve reduced the lengthy wait times that plague financial services data processing, allowing clients to access insights in real time for swift and informed decision-making.”
In January 2024, Apex Fintech Solutions introduced Ascend, a cloud-native investment platform built on Google Cloud’s infrastructure. This platform offers features tailored for fintech firms, wealth management companies, and institutional clients.
Key functionalities include a real-time ledger, account opening and funding processes, self-service data analytics, and a suite of automated services such as corporate action updates and order management.
Apex Fintech Solutions said that it is leveraging several Google Cloud services to optimise the functionality of Ascend.
One such service is AlloyDB, a managed PostgreSQL-compatible database service that allows Ascend to efficiently handle large workloads. This service supports vital operations like transaction storage and risk analysis while facilitating a shift from traditional shadow ledgers.
Additionally, BigQuery plays a significant role in Ascend’s architecture by managing vast amounts of sensitive data securely and enabling scalable reporting solutions. This service offers clients direct access to curated datasets upon creation, fostering data-driven business strategies.
For business intelligence needs, Apex Fintech Solutions integrates Google Cloud’s Looker and Looker Studio within its Apex Insights offering. These tools provide clients with self-service analytics capabilities that are critical for risk management and strategic decision-making.
Furthermore, Vertex AI has been utilised in developing Ask Ascend, an AI assistant designed to support developers with technical inquiries related to APIs and documentation. Ask Ascend will be available in regions including North America, South America, Asia, Oceania, and Africa.
Google Cloud regulated industries global head Zac Maufe said: “Apex approached us with a desire to enhance financial infrastructure capabilities for its clients, focusing on scalability, efficiency, data sensitivity, and innovation.
“With Apex Ascend built on Google Cloud, Apex is providing its clients with the insights and tools they need to stay ahead in today’s dynamic markets — all with security at its core.”
