How certain are you that the data behind your financial decisions is 100% accurate? Are you prepared to handle the complexities of managing data from multiple counterparties and systems? Could inconsistent data be undermining your investment strategies without you knowing? What risks might you be missing?
Many professional investors such as foundations and family offices unknowingly base their decisions on inaccurate data which can lead to significant inefficiencies and errors. Ensuring data accuracy for one counterparty might be simple but doing the same exercise for multiple counterparties adds to the complexity. Jay’s customers benefit from services founded on quality assured numbers, which is crucial for data-backed decision making. Performance calculations, risk metrics, cash flow projections and return attribution. However managing the process for perfecting the quality of data to be utilized is usually more difficult and complex than it seems.
Everyone is talking about open banking, but for us at Jay, the initiative has brought little benefits so far. The real challenge isn´t integrating with backend systems – it´s the lack of uniform or standard dataset that meets the requirements of the solutions we provide.
Handling counterparty-specific data related to investments, financial transactions and cash accounts presents several challenges. Integrating various financial systems with multiple base currencies complicates the processes even further, leading to potential inefficiencies and errors in tracking and reporting.
Data management in the context of investments, financial transactions, and cash account monitoring, involves the systematic process of collecting, cleaning, organizing, enriching and the maintenance of financial data. The goal is to deliver a seamless, all-in-one-solution for analyzing and reporting on all activities. The process includes handling information related to the purchase of equities, funds, bonds, private assets, private equity and other financial instruments, as well as managing cash account transactions not directly related to investments, but still affecting the balance. Effective data management facilitates accurate and timely reporting, ensures compliance with regional regulations, and protects sensitive financial information.
Data verification and reconciliation are key processes to ensure data accuracy and consistency. Integrating different financial systems presents several challenges, particularly in terms of data standardization. Different financial systems often use varying formats for storing and processing transaction related data.
At Jay we work with AI and machine learning to create a unified structure across various data vendors. The process requires complex mapping and continuous monitoring to guarantee data accuracy and completeness. To ensure that even the most unusual and exotic assets are covered, our dedicated team of data analyst ensures that every detail is accurate.
Data verification involves checking and validating the accuracy, completeness, and reliability of incoming data. By introducing third-party data into our process, we not only enrich the information available for our users, but also verify the accuracy of the received data. It is surprisingly often that, the dividend information received from a counterparty differs from the official information received from third-party market data vendors.
The process of comparing data from different sources to identify and resolve discrepancies is called data reconciliation. This step confirms that the data entered into our systems aligns with the original source. For example, reconciling a bank statement provided by the source with the one produced by Jay, while accounting for the transactions in our systems helps identify any differences due to errors, omissions or miss mappings.
It takes a practiced team with years of industry experience to identify and account for all possible pitfalls with imperfect data. The processes related to data management call for continuous development. As the number of data sources and types grow, so does the need for advance technology to tackle the ever-changing Financial Industry. At Jay, we are committed to supporting data-backed decision making, providing a foundation for smarter, more informed financial choices.
Target Solutions
Making the complex simple. Created by asset managers for asset managers.
Our platform offers a way for Asset Managers to differentiate themselves from their peers through state-of-the-art digital services, driving new business and increasing customer loyalty.
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Improve customer experience
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Empower advisors with total portfolio control
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Save time and reduce cost
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Benefit from professional data management
Our all-in-one solution empowers Family Office professionals to prioritize asset management while delivering customized, cutting-edge reports and online services to their principals.
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Improve customer experience
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Visualize complex structures in a simple, yet accurate way
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Empower advisors with total portfolio control
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Reduce costs
Our comprehensive solution enables Private Investors to effortlessly maintain control over their total wealth and monitor the performance of their investments and partners.
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All assets in one place
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Gain a holistic view of your entire wealth
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Empower yourself and improve time-to-action
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Our all-in-one solution empowers Institutional Investors to prioritize portfolio management and supervision while delivering customized, cutting-edge reports and online services to all stakeholders.
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Simplify data aggregation
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Benefit from ready-made reports
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Gain a holistic view of the portfolio
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Improve data accuracy
Our platform enables Fund Companies and GPs to differentiate themselves from their peers through state-of-the-art digital services, driving new business and increasing customer loyalty.
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Improve customer experience
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Focus on core business
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Reduce cost
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Offering
We offer a user-friendly platform that seamlessly integrates data management, reporting, and analysis to deliver actionable insights and to support informed financial decision making.
Bringing portfolio control to the next level
A consolidated view of total wealth, improving financial planning of intricate client structures.
Simplifies portfolio creation and changes for investment professionals.
Improves customer experience and insights into wealth composition
Saving valuable time and costs by increasing efficiency and streamlining operations.