Ultimus Fund Solutions, the fund administration and services provider, and Xceptor, the data automation platform provider, have announced a deepening of their existing six-year partnership on behalf of clients of Ultimus.
The enhanced partnership aims to enhance operational efficiency, and reduce risk across global verticals and business lines through application of data automation and reconciliation to speed up processing times, enhance data accuracy, and facilitate customised reporting.
Xceptor’s data automation platform and artificial intelligence framework is embedded into uSUITE, Ultimus’ proprietary platform, which leverages robotic processing software, machine learning, and APIs to streamline data processing. Xceptor enables straight-through processing across all of Ultimus’ applications. The data platform can monitor inbound data, such as trading activity, and ingest data from all sources and integrate it within any workflow, the firms note.
Jason Stevens, executive vice president, chief technology officer, Ultimus, commented: “Xceptor’s automation capabilities have drastically reduced the time required for our fund accountants to process data, transforming tasks that previously took hours into seconds. This efficiency allows our associates to focus on critical financial analysis, significantly enhancing productivity and employee morale. By automating data ingestion and processing, Xceptor has also minimized operational risks, eliminated manual errors, and reduced the need for human intervention in routine tasks. Importantly, it allows us to differentiate ourselves in a competitive market by delivering faster, more accurate information to our clients, thereby improving their overall experience.”
Grant Coombe, chief revenue officer, Xceptor, commented: “Fund administrators operate in a complex and dynamic landscape with vast and complex data sets across multiple sources. We are thrilled to expand the use of our industry-leading data automation platform enterprise-wide, to Ultimus Fund Solutions. For over six years, Xceptor has proudly supported the growth of Ultimus’ dynamic business requirements, minimizing errors while increasing operational efficiency. The Xceptor data automation platform now sets the benchmark for the future needs of the fund administration industry, transforming both operations and go-to-market service offerings.”
Xceptor serves some 125 clients and over 11,500 users across 60 countries, including banks, asset managers, hedge funds, custodians, and asset servicers. It notes services provided to 14 of the top 50 global banks, and seven of the top 10 global custodians.
Ultimus faciliates fund administration, accounting, middle office, and investor solutions to support the launching and servicing of registered funds, private funds, and public plans. It also offers customised structures designed for the needs of pensions, endowments, foundations, and other large institutions. Headquartered in Cincinnati, US, it services more than 2,300 traditional and alternative funds with more than $725bn in assets under administration.
