A well-known tech expert from the advisory world has returned to independence, launching a new consultancy to serve the needs of big incumbents and smaller fintech firms alike in reinventing themselves as cloud natives.
Oleg Tishkevich has launched a new software development consulting firm called Invent.us. The firm aims to help financial institutions supporting financial advisors and “vendors creating wealth tech software solve their complex systems architecture problems.” Joining him is Ryan Reineke, former COO and CTO of broker/dealer Cambridge Research, and others.
“This is not a new problem we are solving, but we are providing a new way of solving it—cloud native and cloud based are two different things,” Tishkevich explained in an interview.
Tishkevich sold his well-established financial planning software firm Finance Logix to Envestnet in a 2015 stock purchase ultimately valued at $32 million. He remained there the past three years as the managing director and chief technology officer of financial planning.
Invent.us has 30 developers on board; many have spent their careers working for large companies on cloud development and deployment outside the fintech and financial services industries, from major enterprise software vendors to telecoms. Tishkevich argues that this addresses one of the key problem areas that has hindered and plagued many rollouts of advisory technology to the cloud: a lack of expertise in building cloud—applications native to the cloud—applications from scratch.
“You can’t take the same guys that built these old legacy systems at financial services firms and have them build the new version of it in the cloud; if you do that your system is still going to be constrained by the cloud,” Tishkevich said. He explained that this negates the purpose of going to the cloud in the first place. Invest.us is building a methodology to marry native cloud architecture with the security, regulatory and business requirements specific to financial services.
Representatives from the new firm will be available at the upcoming Technology Tools for Today (T3) conference to be held January 29 to February 1, 2019, in Denton, Texas.