IntegriDATA, a leading New York City-based consulting group, announced the launch of a SaaS (Software as a Service) version of its CAARS Collateral Management System, including an option for full business process outsourcing (BPO). CAARS is a comprehensive web-based third-party solution that addresses the challenges associated with daily collateral management and reconciliation for OTC derivatives. The system features a real-time, automated, exception based end-to-end workflow – from broker data capture to action execution. The new outsourcing options are targeted to meet the demands of a wide range of firms looking to increase their risk controls without having to add extra staff and fixed costs.
Improving Collateral Management processes is a critical industry priority, but there is no universal solution. “This is clearly the newest frontier for those managing the Operational infrastructures of investment managers. It’s the ultimate data management challenge given the sheer breadth and volume of data, coupled with the strict intra-day daily deadlines,” comments IntegriDATA’s ceo, Mitchel J. Schulman. ISDA shed further light on the comprehensive requirements in its 6/30/10 publication entitled “Best Practices for the OTC Derivatives Collateral Process”. However, meeting ISDA’s best practices for many firms means utilizing full-time IT and Operations knowledge workers that are already stretched and/or adding incremental staff.
IntegriDATA brings together best in class technology with senior staff that individually possess over 20 years of hands-on experience managing Operations, Accounting and Technology functions within leading global asset management firms. “We are staffing our outsourcing service with real industry experts and offering it at an affordable price. The new SaaS and BPO options of CAARS allow our clients to have their process handled at the highest standard of quality, in a highly cost effective manner. The monthly service fees also could adjust should a firm’s derivative book contract in size,” states Mr. Schulman.