Family Office Technology Hub Family Office Tech Stack: Data Aggregation/Reporting and New Generation General Ledger
13 snips
Feb 28, 2024 In this conversation, Alex Lin, founder of Summit, shares his insights on creating a seamless multi-entity accounting software, drawing from his extensive experience managing family estates in France and China. Tanmay Sharma of Coalition AI discusses his data aggregation platform, likening it to 'aspirin for data headaches.' They delve into the challenges of data consistency, the importance of user-friendly solutions, and competition within the tech landscape. Both highlight the transformative power of their technologies for effective financial management in family offices.
AI Snips
Chapters
Transcript
Episode notes
Summit's Origin
- Alex Zeleniewski, frustrated with existing tools, built Summit.
- He struggled managing his family's real estate across multiple countries using only Excel and an accounting firm.
Canopy's Origin
- Tanmay Sharma, after retiring from banking, had difficulty managing his own money across two banks.
- This frustration led him to develop Canopy, a data aggregation tool for single-family offices.
Target Markets
- Both Summit and Collation.AI primarily focus on the US market.
- However, Collation.AI notes the homogeneity of high-net-worth individuals globally, suggesting potential broader applicability.