Clearwater completes 19 implementations, signs up 20 new clients in April
Clearwater Analytics, the leading SaaS solution for data management, reconciliation, accounting, and reporting for investment managers, insurers, corporations, and other institutional investors, announced today it completed implementations for 19 clients and reached agreements with 20 new clients during April 2020.
2
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
As Clearwater’s clients and partners navigate volatility in the financial markets and shifting operating models in the wake of COVID-19, Clearwater’s highly available SaaS offering provides current and new clients with stability, flexibility, and crucial portfolio transparency.
This is true for the clients that were converted in April, representing roughly $37.6 billion in new assets on the system. Clearwater’s Global Delivery and development teams adjusted to their own new operating practices, while delivering on key implementation and data connection milestones. The success of these client onboarding projects is evidence of Clearwater’s successful transition to a full temporary work-from-home model.
“We believe our unrelenting commitment to support our clients, along with our utilization of market-leading technology, is the right formula for navigating such periods and a key reason why many clients are moving to our solution,” said Subi Sethi, Chief Client Officer at Clearwater. Clearwater also established new agreements with a variety of organizations in April, representing roughly $106.8 billion in assets to be added to the Clearwater system. Key new clients include large insurance companies, and new and expanding partnerships with top-tier investment managers; also in the group are a number of foundations, an area of significant growth for the company during the past 12 months, as well as several notable European firms. These new clients have already started the implementation process.
“The behavior of the markets in March and April, along with all the operational challenges associated with COVID-19, only increased the urgency in our discussions with those looking at Clearwater,” said Scott Erickson, Chief Operating Officer at Clearwater. “Our SaaS solution is reliable, accessible, and provides daily transparency into investment exposures and deeper analytics. That is the information investment teams need most right now, and which we have not missed a beat in delivering.”