Ume solutions, a Luxembourg-based fund distribution due diligence platform, has been awarded the prestigious 2023 Nicsa Nova award for innovation in distribution. The award, presented by Nicsa, a major asset and wealth management industry association, recognises outstanding innovation and leadership.

The Ume platform, operating in over 90 countries, facilitates the exchange of due diligence information between hundreds of fund providers and thousands of distributors. Its significance lies in the automation of collecting and evaluating due diligence data, a process that involves users from across the asset management industry. Both investment managers and their counterparties leverage Ume’s platform to meet their legal and regulatory obligations efficiently, states Ume.

In a LinkedIn post, Ume acknowledged the recognition, which was presented on 23 October, noting that the award highlights its transformative use of technology solutions and data analytics in improving asset management product distribution. The post also underscored Ume’s commitment to providing valuable services to clients, attributing much of its success to the support and engagement of its user community.