*RFL continues to refine its software, with value adding features being integrated
*investigating licensing opportunities....announcement expected in next couple of months
* a dozen new institutions added to register
Rubik Financial is set to begin the second stage of a business-wide project that will enable the integration of 100 more data feeds into its systems and Coin software. The project kicked off in October last year and remains on track to be completed over a 15-month time frame. Rubik wealth managing director Wayne Wilson said the company had formatted the data of most of the fund managers and other data providers currently available to the company. “The project is on track and looking good,” Wilson told financialobserver. “The first phase was all about building the integration engine and the second phase is about plugging the data feeds in. “We made a lot of progress with a lot of data providers and there are still a few that we’re negotiating with, but generally it’s been going really well.” The project was still on track to be completed in January 2015, he said. The business will gradually see the benefits of improved data integration. “It will happen in a rolled out fashion now,” Wilson said. “It’s not like a waterfall [process]. “As we integrate each data feed, they’ll start popping up and we’ll communicate with our clients that they can now get this data and a couple of weeks later there will be another, so it will be tranches of releases.” Rubik would also continue to work on a range of licensing opportunities, he said. “I’ll hopefully be making announcements on that in the next couple of months,” he said. “In wealth, there would be at least another dozen businesses that we’re in negotiations with that are either joint venture or licensing arrangements, or in one case an investment.” Commenting on Rubik’s recent $28 million capital raising, he said it was oversubscribed by 30 per cent from its own shareholders. “We also attracted about a dozen new institutional investors,” he said. “It went extremely well. “We announced [on Tuesday night] that we concluded the Infinitive deal and the Stargate Technologies deal was completed a couple of weeks ago and they’re quite large purchases, which didn’t soak up all the capital we raised, but it did use about 80 per cent of it.” In April, the company announced it had undertaken a $25 million share placement, with plans to raise an additional $3 million through a share purchase plan to fund existing and future acquisition opportunities. “The success of the capital raising puts the company in a strong cash position for our proposed acquisition opportunities and enables Rubik to accelerate its growth ambitions,” it said at the time. - See more at: http://www.financialobserver.com.au...essing-with-data-project#sthash.oLDf0SG4.dpuf
RFL Price at posting:
48.0¢ Sentiment: None Disclosure: Unspecified
