Charles River® Development Announces Collaboration with Precisely to Incorporate Enterprise Data Governance in State Street Alpha℠  Data Platform

Rhea-AI Summary

Charles River Development, a State Street Company, has partnered with Precisely to enhance the State Street Alpha℠ Data Platform with Data360 Govern. This collaboration aims to improve data governance and management for investment firms, enabling faster risk and investment insights. With the integration of this technology, State Street Alpha is positioned as a unique front-to-back platform in the industry, offering simplified data access and management. The partnership highlights the ongoing challenges investment managers face with growing data volumes and emphasizes the importance of data integrity in decision-making.

Positive

• Partnership with Precisely enhances State Street Alpha's data governance and management capabilities.
• Streamlined data governance will aid investment firms in making confident decisions.
• The integration positions State Street Alpha as a leading front-to-back platform in the financial services industry.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- Charles River® Development, a State Street Company, today announced a collaboration with Precisely, a global leader in data integrity. Precisely’s data governance solution, Data360 Govern, will be incorporated into the State Street Alpha℠ Data Platform to provide streamlined governance, lineage, and cataloging capabilities.

Charles River’s cloud-deployed front office technology together with State Street’s middle and back office capabilities form the foundation of State Street Alpha, the industry’s first front-to-back platform from a single provider. Alpha enables firms to gain faster risk and investment insights, better serve their clients and bring new products to market faster. State Street Alpha Data Platform, powered by the Snowflake Data Cloud, radically simplifies data management for investment firms and asset owners by enabling frictionless data access, data sharing and enterprise data management.

Data360 Govern is a data governance, catalog, and metadata management solution that provides firms with confidence in the quality, value, and trustworthiness of their data. It automates governance and stewardship tasks to help investment professionals answer essential questions about their data’s source, use, meaning, ownership, and quality and provides a seamless user experience for managing data quality and governance.

“Investment managers and asset owners continue to grapple with multiple challenges leveraging the growing volume of structured and unstructured data generated by their investment processes and external sources,” said Jeff Shortis, Product Owner, State Street Alpha Data Platform. “Partnering with innovative technology providers like Precisely enables us to accelerate time to market for new and differentiated capabilities in the Alpha Data Platform.”

“We are thrilled to partner with Charles River as they build out the Alpha Data Platform,” said Emily Washington, Senior Vice President, Product Management at Precisely. “Our technology facilitates data governance and metadata management to enable a data marketplace to help Alpha clients mature their data strategy, and ultimately build a foundation of data integrity for more confident decision-making.”

About Precisely

Precisely is the global leader in data integrity, providing accuracy, consistency, and context in data for 12,000 customers in more than 100 countries, including 97 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.

About Charles River®, A State Street Company

Investment, wealth and alternative managers, asset owners and insurers in 30 countries rely on Charles River IMS to manage USD $36 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-deployed front office technology forms the foundation of State Street Alpha℠. Charles River helps automate and simplify the investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. We serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of Q4 2021)

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $43.7 trillion in assets under custody and/or administration and $4.1 trillion* in assets under management as of December 31, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of December 31, 2021 includes approximately $61 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

©2022 State Street Corporation – All Rights Reserved

State Street Corporation, One Lincoln St, Boston MA 02111

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Information Classification: General

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Media

Mary Masi-Phelps

marymasiphelps@crd.com

781-425-6155

 

Source: Charles River® Development

FAQ

What is the collaboration between State Street and Precisely?

Charles River Development, a State Street Company, has partnered with Precisely to integrate Data360 Govern into the State Street Alpha Data Platform, enhancing data governance and management.

How will the partnership impact State Street Alpha Data Platform?

The integration of Precisely’s Data360 Govern will streamline data governance, helping investment firms manage and trust their data quality.

What challenges are investment managers facing according to State Street's press release?

Investment managers are struggling with the increasing volume of structured and unstructured data from their investment processes and external sources.

What is the significance of State Street Alpha in the financial services industry?

State Street Alpha is recognized as the industry's first front-to-back platform from a single provider, offering comprehensive solutions from front office to back office.

What assets does State Street manage as of December 2021?

As of December 31, 2021, State Street manages approximately $4.1 trillion in assets and has $43.7 trillion in assets under custody or administration.