Yeah thats a tricky one because I imagine initially they built a vanilla platform that can provide integration and services to meet the required components and APIs to send and retrieve data from the relevant tables. But then each clients configuration would not be standard and the translation's and data contained in these tables would be specific for each business (even though the fields are generic to the FMS) and this would require customisation and configuration per client to accurately process and report their outputs from the system back to the client. So in a nutshell I don't think SPX is pure bespoke, I just think the amount of configuration and perhaps customisation to meet client needs has (once again) been understated in communications from the company to the public as these activities do take time).
I hope that wasn't "word salad" but that's the best I can surmise what I think is happening.
As for the question why only 2 at this point - I would that is an economy of scale thing, if they are trying to target 50% of Cap members and say 80% of Cap members use those 2 products (Cap would know this because of existing Invoice and Receipting to their current FMS) then focus on those for the supposed "quick win" - that actually makes a little sense to me.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
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