Data group MoneyMate generates 75% of its sales overseas

DATA group MoneyMate has reported strong export growth in recent years.

With turnover close to e10 million and 70 staff employed the group is now generating 75% of sales overseas.

Key clients include top fund managers such as JP Morgan and several of the world’s big names in the US, including Schroeder and State Street, where the group is building up a list of big name clients.

In the last five years the group has driven the export side of the business in particular, according to Conor Smyth, the group’s sales director.

It operates on a “24/7 basis and provides all the back up data to fund managers who have to track daily the performance of each of their funds.”

“Accuracy of information is paramount to the group and its reputation rises or falls on that,” he said.

Established in 1991, it is a leading provider of investment and fund data to the European and global financial services community.

It has more than 300 customers in 11 markets and 10 internationally recognised names on its client list in the US.

The group’s customer base has been extended in particular in the past five years and at this point leading banks, investment companies, fund managers and fund supermarkets, benefit from MoneyMate’s data and technology solutions. Mr Smyth said the core part of its service is the quality of the data provided that allows all of the funds it serves the ability to “benchmark” themselves against its competitors.

The group has positioned itself in this space and has demonstrated its ability to provide “accurate and up to the minute” data that allows its clients to get on with their core business, he said.

Mr Smyth said the group was helped by its participation in the Enterprise Ireland’s “International Selling Programme”.

That has helped the group to better understand the nature of selling into sophisticated markets and the challenges that result from having that kind of an ambitious strategy, he said.