Building Singletrack

The right people: combining industry insight with technological expertise

When co-founders Stuart Berwick and Paul Dyson met at the University of Essex’s mountain biking club while pursuing their PhDs, ‘Singletrack’ meant a path wide enough for a single bicycle. Although each went on to follow different career paths, Paul working in eCommerce web development and Stuart in capital markets, they kept in touch with Stuart sharing the challenges of capital markets technology.

In 2009, they found that they were both on the lookout for a new challenge, and keen to pursue more entrepreneurial ambitions. The idea for Singletrack was sparked by some of Stuart’s experiences as CTO at JP Morgan, combined with Paul’s insights into eCommerce and the development and widespread adoption of cloud computing. 

The right time: cloud computing

Cloud computing, which was beginning to see more widespread adoption, promised a way to develop CRM systems and other software applications which resembled what the big banks had built internally, without the need for a huge investment in on-premises datacentres and internal development teams. 

The technological revolution had already happened for trading with the widespread electronification of the 1990s, now it might be the turn of the capital markets.

Making contact with the rapidly-developing Salesforce platform helped the idea solidify: it seemed to be the kind of cloud-based, CRM technology which could underpin capital markets specific tools, providing a cost- and resource-effective, robust place for Singletrack to live. A partnership with Salesforce was forged, and Singletrack’s development began.

The right customers: the capital markets community

With the right cloud platform in place, it was time to look at the potential users of the Singletrack platform. Mid-sized capital markets firms who stood to gain from the kinds of tools the largest banks had been able to build in house, but who lacked the resources to build themselves were the intended customers. Thanks to their capital markets experience, Singletrack’s founders had a wide range of contacts to call on to test ideas and develop a picture of what Singletrack should offer.

Where previously internal IT teams at these mid-sized firms had to improvise technology stacks to support capital markets workflows alongside day-to-day IT jobs like making sure the printer is working and responding to support tickets, Singletrack could become a unified yet modular one-stop platform tailored to capital markets workflows and requirements. 

Early development took shape in partnership with Singletrack’s first customers. Their feedback as they used the system helped the offering grow and ensured that it stayed focused on what capital markets professionals really needed and valued. As the customer pool grew, it became a democratising force for development, allowing everyone who uses Singletrack to benefit from the experience and expertise of everyone else through a product roadmap informed by a broad range of firm types, geographies and ways of working. 

This approach, of working with customers to build a best-in-class software solution which is both streamlined and informed by on-the-ground experiences and needs, has been in Singletrack’s DNA from the very beginning, and continues today.

As well as maintaining the best parts of this initial approach, some of the original members of the Singletrack team are still here, helping make the platform better and better, more than fifteen years later. We’re always changing and developing to make sure our customers benefit from the very best of cutting-edge technology, but at our core we’ve maintained our long-term purpose.

The right tools: turbulent times and MiFID II

Market turbulence, geopolitical upheaval and big changes to capital markets regulation only made developing Singletrack more urgent. 

Robust, compliant, comprehensive CRM tools for capital markets firms in the UK and Europe became indispensable in 2018 when MiFID II regulation came into force. Requiring that investment research providers ‘unbundle’ research costs from execution required capital markets firms to undertake detailed reporting and record-keeping which Singletrack was ready to support. 

In turn, the industry changes ushered in by MiFID II revealed wider possibilities for this 360 view of capital markets client relationships. Keeping track of interactions with clients, maintaining all the data in one place and applying AI-backed analytics tools to it to surface the right information at the right time was not just a great way to achieve compliance, but a great way to gain and maintain a competitive advantage.

As Singletrack’s capabilities developed, this competitive advantage became clearer. Particularly as turbulent times impacting global markets – not least the COVID-19 pandemic – put pressure on capital markets teams to achieve more and more with slimmer resources. 

The MiFID II era is ending, but even as this regulatory framework is unwound and investment research payment methods become more flexible, the transparency MiFID II offered the end investor, and the competitive benefits of comprehensive, rich client data will not go away. Nor will the flexibility of remote working, and the need to collaborate internally and externally with teams around the globe. 

Looking to the future

Singletrack continues to grow alongside its customers, guided by their expertise and insights. Each year, we hold two customer roadmap events to keep everyone updated on what we have planned and seek feedback on what’s working well and what could be improved. In addition, we host a range of other customer events each year where we exchange feedback and best practices with teams who are using Singletrack every day. This year, we’re introducing the Singletrack Academy, which will help this community of capital markets professionals become even richer and more valuable.

We’re looking forward to fifteen more years of working with capital markets firms on the tools they need to deliver top-quality client service while maximising revenue. If you’d like to be a part of the Singletrack story, get in touch now.

Singletrack

Published: 17/04/2025