London, England, 10:30, 8 December 2023: Industrial Thought Ltd. – a group of companies focused on accelerating the future of wealth management – has announced a £250K investment in the pioneering platform TURN (TISA Universal Reporting Network). Developed by The Investing and Saving Alliance (TISA), TURN is an industry blockchain solution for collecting and disseminating fund-related data. The platform represents a major milestone in empowering asset managers, distributors, and the broader financial sector by providing a unified, transparent, and efficient solution for data-related challenges. The aim is to increase market compliance, reduce regulatory and operational costs, and ultimately provide a better service to investors.
Gary Bond, CEO of TURN, said: “We believe that data is the lifeblood of the modern financial world, and it should be harnessed to its full potential. Unlocking that potential starts by overcoming the main obstacles; because TURN has been developed by industry experts for industry professionals, we can tackle those challenges head on. Building on the platform’s initial success, we have a lot of exciting plans in the pipeline. The investment from Industrial Thought enables us to enhance our capabilities further as we continue to address the evolving needs of our industry.”
Nuno Godinho, Group CEO of Industrial Thought Ltd., added: “In this new era of digital transformation, it is crucial to standardise data to create trust, limit liability, and allow our industry to thrive. TURN is doing exceptional work building an environment where firms can share their data and its key principles of transparency, collaboration, cost-effective excellence, and quick to market, totally align with our values.”
Industrial Thought is taking a holistic approach, paving the way for an ecosystem that serves both investors and wealth and asset management professionals. This environment relies on having a trusted financial reporting network like TURN at its core so that stakeholders can share data securely and be confident that the information has been validated.
About Industrial Thought Ltd.
Founded in 2013, Industrial Thought Ltd. is the parent company for a group of companies shaping the future of financial technology and data products. Backed by collective expertise, it is powering the transition to wealth management 4.0 and facilitating a socially responsible, sustainable economy.
As the wealth management industry enters a new era, Industrial Thought will drive transformation by creating a complete suite of data, platform, and marketplace services to support the delivery of higher standards and speed up innovation.
Companies within Industrial Thought include:
- FSL (Financial Software Ltd.): Simplifying the Complexity of Managing Investment Taxes. A provider of specialist investment tax solutions and the creator of CGiX, the market-leading capital gains calculator.
- Raw Knowledge: Reshaping Wealth by Demystifying Data. A specialist data provider for the wealth management industry.
- Thought Train: Fast-tracking the Digital Leap in Wealth Management. A rapid proof of concept company focused on financial software development.
- Thought Ventures: Investing in Trailblazers to Build a Sustainable Circular Economy. A venture builder and incubator aimed at investing in innovative early-stage to Series A start-ups working towards a more circular economy.