About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Paladyne Systems Extends Implementation at First Customer GoldenTree Asset Management

Subscribe to our newsletter

GoldenTree Asset Management, the first customer to implement Paladyne Systems’ Analytics Master data aggregation, reporting and reconciliation software back in 2006 is nearing the end of an 18-month project to build a central data warehouse for its applications using version 8.0 of the software.

According to Steven Lamm, head of application support and data management at GoldenTree, “We had been using Paladyne Analytics Master successfully since 2006, but as data became more important to our business, we could see things we could do better if data was more, and more quickly, available. We started looking for a solution that would give us better access to data and a faster time to market in 2011. We wanted a solution that would help us stay ahead of the company’s growth and ahead of client and regulatory demand for data. We also wanted to make our data as transparent as possible to clients and regulators, and we wanted to increase user efficiency. We reached out to many vendors and decided Paladyne Analytics Master 8.0 was best for us.”

Paladyne Analytics Master 8.0 was released last year and was quickly taken up by GoldenTree for a three-phase project that would integrate 12 years of data in a locally installed data warehouse. The first phase integrated the hedge fund’s largest applications, including trading and portfolio management, with the data warehouse, while the second integrated back-office apps, including vendor products such as SunGard VPM accounting and proprietary apps developed by GoldenTree. The third phase of the project is sweeping up the remainder of the firm’s 20 applications and is due to be completed by the end of June 2013.

Reporting that the project is paying dividends to the business, Lamm says: “Paladyne Analytics Master 8.0 has given GoldenTree the underlying foundation to build proprietary data aggregation and reporting tools that represent a major improvement in our data management and archiving. Centralising our data on the Paladyne platform has allowed the firm to provide more flexible, dynamic reporting and increased data and reporting consistency across the board. Ultimately, it allows us to be far more efficient, effective and consistent across our clients’ reporting and our in-house analysis and decision-making capability, while also reducing manually intensive processes.”

As well as meeting client requirements, GoldenTree says the central data warehouse is helping the firm pull together data to satisfy regulatory requirements and provides a base for future growth. Bill Christian, chief operating officer at GoldenTree, explains: “Many hedge funds outsource technology, but with our own data warehouse we can control data and reduce the difficulty of solving future problems. We can also take on significant assets, without adding significant headcount.”

For Paladyne, GoldenTree’s decision to implement Analytics Master 8.0 is testament to the companies’ relationship. As Sameer Shalaby, president of Paladyne, concludes: “GoldenTree was our first client, it believed in our vision and we looked to it for future direction. Its business needs are fairly complex and it has a complex technology footprint. Bringing the firm’s data together and normalising and synchronising it has been a large undertaking, but we have worked together on this project and delivered a successful solution.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Solving the operations talent crisis

With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the cost and complexity of additional headcount. How can you ensure that these constraints don’t hold your...

BLOG

Compliance.ai Plans Market Growth and Expansion on Back of $6 Million Funding Round

Compliance.ai, a provider of regulatory change management solutions, has secured $6 million of funding, which it will use to promote market growth and expansion. At the same time, the company has brought in a new CEO, Asif Alam, who will replace Kayvan Alikhani, who will continue innovating Compliance.ai products as co-founder and chief product/strategy officer....

EVENT

ESG Data & Tech Briefing APAC

Join us in one of the greenest cities in the world as we bring together thought leading ESG specialists to explore how financial institutions are adapting to the evolving ESG regulatory and market infrastructure.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...