TAMPA, Fla. & SCOTTSDALE, Ariz.–(BUSINESS WIRE)–LDI-MAP (dba iJoin), a leading provider of retirement technology, announced today that it has acquired Coherent, a global Software-as-a-Service (SaaS) company that is fast becoming the ubiquitous standard for business logic as a platform to help provide more personalized options for retirement savers and enable better outcomes through faster product innovation.
Coherent Spark transforms business logic, including rules, calculations, and data, from any spreadsheet into an application programming interface (API) that can then be connected to any application. This allows business and IT teams to work together more efficiently to bring products to market faster and innovate their offerings.
With Spark, iJoin’s product team can create actuarial models for a range of managed accounts and guaranteed income products in spreadsheets, and then instantly turn the logic into integration-ready APIs without the need for manual coding. iJoin’s actuarial team also uses Spark for robust, high-speed testing within the platform, significantly shortening the product development cycle. Coherent Spark also includes all of the required security, compliance, and audit-ready features needed to meet the rigorous requirements of iJoin’s insurance industry partners.
“Coherent Spark enables us to achieve in weeks what used to take months with a traditional model,” said Steve McCoy, CEO of iJoin. McCoy added, “Product development time is so much faster with Spark that not only allows us to get to market sooner, but it also allows us to iterate quickly to stay at the forefront of product innovation. Spark supports our vision to rapidly evolve the retirement industry to meet the needs of retirement savers with personalized investments and guaranteed income options.”
Todd Buchanan, CEO – US at Coherent, stated, “We are excited to offer Spark as an accelerator to help iJoin continue to innovate and lead in the retirement industry. In an ever-changing world with new regulations, fluctuating and volatile market conditions, and trends in consumer behavior, the retirement savings industry must adapt quickly. Technology makes the difference between keeping up and setting the pace. The iJoin team sets the pace of innovation and we are proud that they chose Spark to move even faster.”
Coherent is a global Software as a Service (SaaS) company that is redefining how business and IT teams use no-code to manage critical business logic. Most companies run critical business processes on hundreds of spreadsheets. Additionally, they spend billions on IT budgets worldwide to recode business logic in spreadsheets to add connectivity to other applications, auditability, and cloud scalability. Spark is Coherent’s flagship product, offering a no-code SaaS platform that makes building enterprise software as fast, accessible, and affordable as using spreadsheets. Build your first application programming interface (API) in minutes from your existing spreadsheet rules, formulas, and data models and expose them through the cloud to securely connect to any modern application. Then supercharge it by adding extensive version control, automated testing, and parallel simulation capabilities. For more information, visit: https://www.coherent.global/.
About LDI-MAP, LLC (dba iJoin)
The iJoin team is dedicated to Personalizing Retirement Success™ and paving the way for millions of savers to better retirement outcomes. As a financial technology partner to the retirement savings industry, iJoin’s experience with goal-oriented retirement plans helps people immediately understand their retirement financing needs and encourages action to get on track. iJoin empowers financial advisors and minute takers with actionable data and tools to more effectively engage both employers and their employees. LDI-MAP (dba iJoin) is a Registered Investment Adviser with the State of Arizona – 14646 N. Kierland Boulevard, Suite 125, Scottsdale, AZ 85254. Learn more at ijoinsuccess.com.