DiligenceVault Year in Review: 2023 – Success Takes A Lot of Things!

DiligenceVault Year in Review

DiligenceVault Year in Review: 2023 – Success Takes A Lot of Things!

2023 was a journey filled with uncertainty and macroeconomic stress points, all while the ongoing transformation of the investment management industry. It demanded not just strategic resilience, but emotional fortitude to adapt to this evolving landscape. Amidst this flux, our steadfast belief in our commitment to cater to the ever-changing needs of our industry remained unwavering. In doing so, we encountered numerous successes and gathered invaluable lessons. Join us for a quick stroll down memory lane, as we highlight the memorable moments and milestones of the past year.

#1 A year of client satisfaction

As our clients continue to create a positive impact within the industry by building a new diligence standard, DiligenceVault is incredibly privileged and proud to be their partner in this process. While it’s common to focus on what doesn’t go as planned, 2023 has been marked by an influx of positive client feedback—a testament to our collaborative successes.

A heartfelt shoutout to Team DV for their unwavering dedication in crafting these positive experiences alongside our clients.


DV EOY 2023 - Client Satisfaction

#2 A year of memorable wins

Hooray for new wins! Celebrating new victories fills us with an overwhelming sense of excitement and gratitude. But these wins aren’t just milestones—they’re standout moments for our team:

  • In our core market, we’re not just retaining—we’re thriving! With over 100% retention, we’re setting the bar high and staying in sync with the profitable trends of SaaS in 2023
  • Our global footprint is expanding. Welcoming clients from 6 more countries in 2023 speaks volumes about our global reach and impact
  • We welcomed a new complex, multi-jurisdictional client where every single team at DV came together like superheroes. Sales, product, IT, data privacy, legal, client success, finance… you name it!

These victories aren’t just about numbers— they’re testaments to the sheer awesomeness of the Team DV magic! They inspire us to dream bigger, work harder, and achieve beyond our expectations. Here’s to these triumphs, the fuel for our continued journey towards greatness!


DiligenceVault EOY 2023 - Strength In Numbers

#3 A year of new milestones

This year marked several significant milestones that showcase the immense strength of our One DiligenceVault Network and Team DV:

  • Accomplished 100% asset manager coverage for a new client implementation at T+0
  • Continue to lead the industry with the highest adoption rate, surpassing 14,000 firms
  • Set unparalleled response rate standards by consistently delivering the highest response rates on our platform
  • Rapid response times made possible through our OneDiligenceVault network and extensive response capabilities
  • Engaged client users spanning across more than 50 countries
  • Record-breaking implementation speed, completing setups in under one week


DV EOY 2023 - New Milestones

#4 A year of shaking things up

We launched a new product line that goes head-to-head with horizontal SaaS solutions, aiming to be the cool new kid on the block for asset managers’ diligence challenges. Looking back, it feels like our early days of launching DiligenceVault, but this time, we’ve got this epic distribution power – like launching a rocket with a turbo boost!

And guess what? We didn’t stop there! We decided to stir the pot even more by diving into another initiative that might just shake up our whole business model. But hold your horses; as we set sail on this adventure in 2024, we received cautionary notes from industry veterans – “Watch out, others have tried this and failed!” and then they too joined us in backing this initiative.

Well, we are here to rewrite the rule book. Because let’s face it, where’s the fun if you don’t add a little risk, a sprinkle of laughter, and a whole lot of determination to the mix? So, here’s to taking chances, making waves, and turning challenges into success stories with TeamDV in action!


#5 A year of new compliance

Our team has dedicated significant effort to attain two critical control certifications – SOC 2 Type II compliance and ISO 27001. These certifications not only signify our commitment but also provide our clients with increased assurance. Moreover, as we expand our client base in the EEA, our focus remains on enhancing our data privacy compliance in alignment with specific regulatory jurisdictions such as the CSSF Directive in Luxembourg and Bafin in Germany. We’ve streamlined accessibility to DPIA and TIA assessments, prioritizing our clients’ peace of mind.

In addition, fostering a culture of compliance across our organization is paramount. Through comprehensive training sessions, considerations in product design, and adopting commercial approaches, we consistently uphold our commitment to safeguarding our clients’ data privacy and confidentiality. Looking ahead to 2024, our attention is set on AI compliance, further reinforcing our dedication to maintaining the highest standards.


DiligenceVault Year in Review - New Complaince

#6 A year of strengthening the DV community

This year we launched our DV Industry Exchange – a global user advisory group (UAG) initiative in collaboration with our asset managers, institutional investors, and wealth management clients. Our UAGs are a unique opportunity for our clients to engage with their peers and industry counterparts. It offers exclusive insights into ongoing product development initiatives, fostering an environment where knowledge-sharing, mutual learning and the exchange of best practices thrive. This engagement enables us in our mission to create a solution that is deeply rooted in industry needs and shaped by client feedback.


DiligenceVault Year in Review - Strengthening DV Community

#7 A year of industry recognition

“Chase excellence and success will follow you,” and in 2023, this adage proved true for us in remarkable ways. The pursuit of excellence in delivering value via our product and the team earned us industry recognition:

  • PEW European Awards – Best ODD Solution
  • Part of the WealthTech100 List for the third time
  • Shortlisted for the third time as a finalist for Chief Investment Officer’s 2023 Asset Management & Servicing Industry Innovation Awards
  • Best New Solution Award at Private Equity Wire European Emerging Manager Awards 2023!
  • Best Investor Relations & Due Diligence Platform 2023 in Wealth Finance International

We extend our heartfelt gratitude to our clients and network whose unwavering support has been instrumental in our journey of excellence.


DiligenceVault EOY 2023 - Industry Recognition

#8 Another year of meaningful team building

Gathering in person in the UAE provided a precious opportunity for us to reflect on the insights gained throughout the past year and set the groundwork for our future growth. Despite the market conditions, it was important for us to commit to a time together to witness the fusion of diverse teams collaborating through strategy sessions, an invigorating pitch competition, an engaging rush-away challenge, and DV trivia.

Amidst our celebrations of DV milestones, we took the chance to delve into client learnings and immerse ourselves in various cultures. These experiences fuel our drive to innovate and enhance the experiences of our clients.

Looking ahead, we eagerly anticipate the continued growth and collaboration that defines us as OneTeamDV!


DV EOY 2023 - Team Building
#9 A year of lessons learned

A key lesson from the launch of our first asset manager-focused product— the reality was underperforming expectations due to a sluggish phase in asset manager fundraising and budget constraints. The timing of the market isn’t always within our control, and taking risks involves navigating unpredictable market shifts. Early failure isn’t a roadblock but rather an integral chapter in the narrative of success. After all, if we never try, we never fail, and we never truly learn and grow.

Another lesson that surfaced was the importance of proactive engagement, particularly in response to negative competitive practices. In addressing the situation, we posed the question, “Why are competitors talking about us?” It’s a reflection of our understanding that healthy competition fosters growth and innovation. However, it’s equally crucial to confront and counter negative competitive behaviors. It’s a reminder that staying passive in the face of such challenges doesn’t serve the greater purpose of elevating the collective experience.


#10 Another year of focus

Staying true to our product-focused DNA, we gave a good, hard look at over 10 integrations, then thought, “Eh, let’s go with four—Microsoft Suite, Sharepoint, Factset, and Backstop Solutions—because, you know, quality over quantity!”

Amid the rush sparked by the Generative AI trend, we faced market pressure to swiftly develop a response. But hold your horses! We took a deep breath, sipped some coffee, and decided to research this transformative product functionality. You won’t see our embedded offerings until 2024, but trust us, they’ll be worth the wait!

But hey, focusing like a Zen master has its quirks. Sometimes, you gotta say, “Nah, not this time,” or take a raincheck on jumping on every trend. We’re cool being second or third at the market’s starting line, as long as we are prepared with resilience and scoop up the biggest slice of the market pie.

So, cheers to our laser focus—making strategic moves, shunning those fleeting trends, and aiming for long-term glory, all while keeping our cool in this wild industry!


DV EOY 2023 - Product Focus

#11 Another year of giving back and paying it forward

Beyond our day-to-day, we’re committed to paying it forward. Twice a month, we curate and publish new job postings aiming to ignite careers and nurture talent within our community. It’s our small way of fostering growth and spreading encouragement.

As the holiday spirit fills the air, we’re thrilled to share our contributions to four amazing causes—Feeding America, One Tree Planted, Save the Children, and St. Jude’s. What makes this even more special? It’s our clients who helped us select these impactful initiatives.

Together, let’s create a world where compassion, generosity, and empathy pave the way forward.


DiligenceVault EOY 2023 - Giving Back

2024 – waiting for a sequel to your favorite movie!

“As we reminisce about the roller coaster that was 2023, we celebrate a mishmash of tiny wins and epic victories, with occasional high-five to failure. Huge thanks to our stellar clients, industry fans, and our rockstar team for being the real MVPs! 

Amidst the chaos of this world, I am looking forward to 2024 with so much excitement. On behalf of Team DV, we wish everyone a wonderful end of the year and joyous holidays, along with a happy, healthy, and purposeful new year. Cheers to laughter, success, and new memories in 2024!” – Monel Amin, Founder & CEO, DiligenceVault.

Related Blogs

DiligenceVault - Job Post