Rubik Financial Limited (Rubik, ASX:RFL), Australia’s largest provider of financial services software by number of clients, has transitioned one of its largest institutional clients to the cloud.
The client, having previously hosted COIN in-house, is today fully connected to a superior operating environment following a successful transition over the weekend. The ASX-listed top 50 company scrutinised the business case before moving such a critical component of their operating system to the cloud.
Group CEO of Rubik, Niek Hoogenhout, said the migration represents a major milestone for Rubik’s growth strategy.
“Our client’s choice is proof that the cloud is an industrial strength delivery model,” he said.
“Rubik is already delivering core banking systems via the cloud, and with our largest wealth management clients now embracing this model, we expect other financial services firms of all sizes to follow.”
Rubik Managing Director Wealth, Wayne Wilson, said cloud technology overcomes inefficiencies that can accumulate when the software is hosted and supported in-house.
He says COIN, delivered as a cloud solution, will save costs and eliminate upgrade-lags that would otherwise drag efficiency and impede performance.
“Hosted by Rubik, COIN will be constantly enhanced for immediate application among advisers.”
Rubik is unable to disclose client identity due to contractual limitations.
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