Celent Case Study: RAGE LiveWealth™ Transforms Performance Reporting at a large US Financial Institution

May 21, 2015, 01:00 ET from RAGE Frameworks

DEDHAM, Mass., May 21, 2015 /PRNewswire/ -- Today Celent [an Oliver Wyman company] released a case study on how RAGE Frameworks is powering Data Aggregation and Analytics to Transform Performance Reporting at a large US Financial Institution.

The report sets the stage by describing the challenges that any firm in the Wealth Advising business faces in sourcing millions of rows of external position data accurately and on time from an increasing number of custodians, each producing different formats and possessing different delivery capabilities. Without a consolidated view firms are struggling to provide a more meaningful client experience. The case study describes how a large US Financial Institution applied technology from RAGE [LiveWealth] to automatically create a single standardized, normalized, on-demand view of all performance data from multiple, heterogeneous inputs streams, ranging from large custodians with mature systems to small Hedge Funds who rely on spreadsheets and email. 

The article can be read at:  http://www.rageframeworks.com/docs/case_study_celent.pdf

The report states "Many firms are upgrading their performance reporting systems to provide advisors and clients updated information on their investments and portfolios. Some firms are looking to reengineer their platforms and transform their reporting capability to include real time and near real time reporting as well. Firms looking to provide comprehensive reporting (including assets held away) need powerful data aggregation tools to help capture and gather the information and to aggregate and reconcile customer  holdings and transaction data from internal systems as well as a variety of third party firms such as custodians." The rest of the report goes on to describe how this institution accomplished its goals using RAGE LiveWealth

Says Jim DeWaele, the head RAGE's LiveWealth business, "Through the use of RAGE's patented technology we are insulating the business from all the heavy lifting associated with collecting and normalizing external positions.  We require only basic information and then deliver fully reconciled data immediately. We apply high levels of automation to the extraction and entry of data from paper and PDF statements…an issue which is compounded with the growth in alternative investments. In this case study  Client Reporting cycle time was brought down from 45 days [after quarter-end] to same-day or on-demand, thereby completely transforming both Client and Financial Advisor experience, driving 75% operating cost savings and institutionalizing compliance across the enterprise. We are set up to service all customer segments from institutional clients, ultra high net worth to mid-tier clients on a single platform, tailored for the needs of each segment, is the another piece of differentiating value of RAGE LiveWealth".

About RAGE LiveWealth: It's Possible
RAGE Frameworks Inc. provides Business Process Automation and Semantic Intelligence solutions and products with the mission of bringing unprecedented Speed, Flexibility and Insight in solving the most complex and mission critical enterprise business problems. To learn more about RAGE LiveWealth, visit http://www.rageframeworks.com/livewealth/

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