NEWS ANALYSIS: NexJ Systems has partnered with Winfund to create a cloud-based offering of hosted desktops for financial services markets.
CRM solutions vendor NexJ Systems is aiming to extend its
footprint into mutual fund dealers, brokers and life insurance distributors by
offering a fully integrated cloud-based desktop. The company, which is well-known
in the financial industry for its CRM offerings, is partnering with Winfund, a
vendor of wealth management solutions, to create a specialized hosted desktop
offering that incorporates specific capabilities needed for the financial
The Winfund/NexJ Systems collaboration should prove to be
very interesting, especially since financial businesses, such as mutual fund
dealers, brokers and life insurance dealers, are bound by complex compliance
and security needs. That situation should making the private cloud offering even
more significant. If the companies can successfully deploy cloud-based desktops
that meet the security and compliance requirements of their customers while
hosted off-site, NexJ and Winfund will have blazed a trail into a new territory
and may help to dispel many of the beliefs that hosted desktops don't offer
NexJ enterprise CRM solutions are designed to allow
companies to understand more about the customers they interact with so they can
make more informed business decisions and generate bottom-line results.
Featuring industry-specific capabilities for financial services and insurance,
NexJ brings customer information in multiple systems together into a unified
and comprehensive view of the individual. Companies use this people-centered
view to develop and rapidly evolve innovative customer service strategies and
become more competitive.
Through this agreement, Winfund will integrate a select set
of NexJ's next-generation CRM functionality into its W.connect and W.insurance
solutions to provide Winfund customers with further value while maintaining a
seamless user experience. Customers will have the option of a private cloud
solution hosted off-site or on-premises. Both types of deployment will be
provided on a subscription basis.
Of course, NexJ is not the only company offering hosted
desktops or desktops in the cloud. Several vendors are experimenting with the
very same concept under a moniker often referred to as DaaS (desktops as a service).
DaaS vendors include the likes of Desktone, MindShift Technologies and Nervogrid,
which are using VDI (virtual desktop infrastructure) technology to deliver
Where NexJ and Winfund differ is in the specialization and
requirements needed by a vertical market and also the flexibility to deploy the
desktops on an in-house private cloud or an off-site private cloud, which gives
the customer choices beyond the typical DaaS vendor offerings.
Ultimately, NexJ/Winfund's play into the DaaS space may
spell out how the market evolves and how other services may change to compete,
or it could be the first step in the fragmentation of the market that will
evolve to serve specific vertical needs.
Regardless, both companies are bullish on their success. In
a prepared statement, Laird Elliott, president and CEO of Winfund, said,
"We believe this provides us with significant strategic advantage in new
business opportunities and further provides our existing W.connect and
W.insurance customers the ability to leverage additional functionality with
their current deployment."
John Vincze, senior vice president of NexJ, said in the same
statement, "Our relationship with Winfund will allow us to further expand
our sales channels and reach a new market segment by delivering our integrated
private cloud solution as a subscription service."