SAN JOSE, Calif., Dec. 2, 2020 /PRNewswire/ -- Harmonate announced today its selection by JTC Group (LON:JTC) to allow faster, accurate extraction of financial data for institutional fund and private wealth clientele, broadening access to diverse sources and forms of data to enhance offerings and provide unprecedented speed and reporting capabilities to the global JTC customer base.
"Fund services strategy can only go as fast as the speed with which financials can be accurately extracted and rapidly deployed in the many different formats leaders require," said Harmonate CEO Kevin Walkup. "Impact and ESG investing, for instance, and the hunt for an edge in this rapidly evolving environment also means the definition of what data falls under the fund administration role has quickly expanded, and requires normalization capabilities that are well beyond legacy systems."
"Our institutional and private clients understand the power of data relative to their own organizations and as their trusted partner, they turn to JTC for the solutions that will meet their growing need for pace, quality, usability and information security," said JTC Group CEO Nigel Le Quesne. "We are delighted to announce this alliance, which will marry the transformative capabilities of Harmonate with our deep human expertise and experience in fund, corporate and private client services."
JTC Group is a global organization servicing institutional fund clientele, private wealth and providing a robust range of corporate services. The company supports clientele across 25 jurisdictions, is recognized for its 32-year track record of consistent growth, customer relationship longevity and shared ownership business model where all employees are company shareholders. JTC's growing leadership in the marketplace is demonstrated by the company's significant investments to broaden technological capabilities, enhance product offerings, provide unprecedented levels of information security, data visibility and increased service levels.
"JTC Group's successful achievement of the best of multiple worlds contributes to their accelerating rise in prominence as a preferred solution in a competitive market," said Walkup. "We are excited to serve them as they exemplify what global fund administration will look like in the post pandemic world."
Harmonate's Conductor product provides proven automated data extraction from general ledger systems, statements and balances, providing data normalization, creating specialized data warehouses, and intelligently feeding client dashboards, reports and service level agreements. Outputs are also configured for internal general ledger administration, enterprise resource planning and reporting. Harmonate's data aggregation process encompasses configuration of schedules, data sources, reference data and master data. This provides reporting on expected and actual results to support management through straightforward dashboards.
Conductor has demonstrated the full-scale capacity to reduce reporting delivery timelines by more than 80 percent, or from two weeks to 24 hours. In addition to its speed, quality, and capacity to make data more easily used in more ways, Conductor is designed to support ongoing cost savings over multiple years of deployment.
Harmonate is a data services platform for funds that frees operations from the limits of legacy systems and closes the information gap between fund managers and investors, as well as between funds and the public sector. The company's purpose-built solutions streamline middle office processes — simplify complex, high velocity transactions, and help ensure security and regulatory compliance through each step of a fund's life cycle.
With its proprietary fundstech platform and leveraging more than 15 years of specialty financial administration leadership, Harmonate is helping define best practices in each of the markets it has supported. For more information, please visit harmonate.com.