FundGuard Announces a Strategic Alliance with ICE to Enhance User Experience with Investment Accounting with Comprehensive Data Integration
FundGuard has announced a strategic alliance with ICE to enhance its investment accounting services. By integrating ICE's pricing and reference data, FundGuard aims to provide asset managers, asset owners, and fund administrators with improved data quality, superior analytics, and rapid scalability. This collaboration addresses common financial industry challenges such as regulatory pressures and outdated software, offering a cloud-native, AI-powered solution that lowers costs and eliminates operational barriers.
ICE's extensive data services will support FundGuard's Investment Book of Record (IBOR), Accounting Book of Record (ABOR), and Net Asset Value (NAV) Contingency functionalities. Executives from both companies emphasized the high value and innovation this partnership brings to their mutual clients.
- FundGuard's integration with ICE enhances data quality and analytics.
- The collaboration offers rapid scalability for financial institutions.
- Lower total cost of ownership by using cloud-native, AI-powered technology.
- Addresses pressing industry challenges such as regulatory pressures and outdated software.
- Supports multiple investment accounting functionalities: IBOR, ABOR, and NAV Contingency.
- Potential integration challenges between FundGuard and ICE systems.
- Reliance on third-party data sources introduces data consistency risks.
Insights
The strategic alliance between FundGuard and ICE offers significant potential benefits for stakeholders in the financial services industry. By integrating ICE's leading pricing and reference data, FundGuard can enhance its investment accounting solutions for IBOR (Investment Book of Record), ABOR (Accounting Book of Record) and NAV (Net Asset Value) Contingency. This integration can lower costs and increase efficiency for asset managers, asset owners and fund administrators.
This collaboration addresses a critical industry pain point: outdated software and data management systems. The adoption of a cloud-native platform that supports multi-asset and multi-book capabilities could streamline operations, reduce operational risks and improve decision-making through superior analytics. In the short term, stakeholders might experience initial implementation costs and a learning curve. However, the long-term benefits of scalability and dynamic pricing data integration likely outweigh these initial drawbacks.
Notably, the improved data quality from ICE can lead to more accurate investment decisions and better regulatory compliance, which is essential in today's complex financial landscape. Overall, this partnership could set a new standard in investment accounting technology, driving significant improvements in both operational efficiency and data accuracy.
The integration of ICE's comprehensive data services with FundGuard's cloud-native platform is a promising development in investment accounting technology. The use of AI-powered, cloud-native solutions has been gaining traction in various sectors and this move could mark a significant advancement for financial services firms. This partnership brings together high-quality, real-time data with an advanced accounting platform, potentially enabling users to make more informed and timely investment decisions.
The benefits of a cloud-native approach include enhanced scalability, flexibility and security. FundGuard's platform can dynamically scale resources to meet client needs, providing a robust solution to handle varying volumes of data and transactions. Moreover, leveraging ICE's expansive data services can enhance the platform's analytical capabilities, offering deeper insights and more precise evaluations. While the initial transition to this new technology may pose challenges, including data migration and staff training, the long-term benefits of improved data integration and operational agility are substantial.
The collaboration will provide asset managers, asset owners and fund administrators with integrated access to ICE’s leading pricing and reference data via FundGuard's investment accounting solutions for IBOR, ABOR, and NAV Contingency.
“Today’s modern investment management operations require new era cloud-native technology that can deliver all-in-one multi-asset and multi-book accounting capabilities supported by dynamic pricing data,” said Lior Yogev, CEO and Co-Founder of FundGuard. “By integrating ICE’s pricing and reference data with FundGuard's modern investment accounting platform, our clients will enjoy enhanced data quality, superior analytics, and rapid scalability – all while lowering the total cost of ownership and eliminating operational barriers.”
Financial Services firms are currently navigating complex challenges such as cost and fee pressures, a dynamic regulatory landscape, increased market competition, and limitations due to outdated software. This collaboration between ICE and FundGuard provides access to cutting-edge technology and timely, high-quality data, empowering organizations to effectively manage these challenges and scale as needed.
"This collaboration with FundGuard provides high-value for our mutual clients, enabling them to leverage agile technology and high-quality data,” said Mark Heckert, Chief Operating Officer of Fixed Income and Data Services at ICE. “This collaboration underscores our commitment to innovation and solving industry challenges, ensuring our clients have the tools they require to manage operational needs across the fund accounting workflow."
The integration includes ICE’s exchange pricing, evaluations, reference data and corporate actions.
About FundGuard
FundGuard is a cloud-native SaaS platform for investment management and administration that is powered by AI. FundGuard helps asset managers and their service providers to manage mutual funds, ETFs, hedge funds, insurance products, and pension funds, supporting digital transformation, operations automation, AI-based insights, resiliency, and migration to the cloud. FundGuard is backed by strategic partners including Citi and State Street, and investment firms Blumberg Capital, Key1 Capital, LionBird Ventures, and Team8 among others. Please visit www.fundguard.com
About Intercontinental Exchange
Intercontinental Exchange, inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240604583299/en/
Media contact for FundGuard:
Erika Alter, erika.alter@fundguard.com, +1 718-514-5783
Media contact for ICE:
Damon Leavell, Sr. Director of Communications damon.leavell@ice.com +1 212 323 8587
Source: FundGuard
FAQ
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