Deepening Alliance between Ultimus and Xceptor
Ultimus Fund Solutions, a leading fund administrator based in Cincinnati, US, has deepened its six-year partnership with Xceptor, a leading provider of robotic process automation (RPA) and artificial intelligence (AI) solutions. This expanded collaboration aims to enhance operational efficiency and reduce risk in fund administration [1][3][4][5].
The integration of Xceptor's advanced data automation platform and AI framework into Ultimus' proprietary platform, uSUITE, has transformed the way data is processed at Ultimus. Tasks that previously took hours are now completed in seconds, thanks to Xceptor's automation capabilities [2].
This partnership has brought about several benefits for Ultimus. For instance, it has minimized manual errors and operational risks by reducing human intervention in routine reconciliation and data handling tasks [2]. Straight-through processing across all Ultimus applications is now possible, supporting seamless ingestion, aggregation, and digitization of data from multiple sources [3].
The enhanced accuracy and speed in processing trading activity and other inbound data have facilitated faster data reconciliation and customized reporting [3]. This, in turn, has led to improved employee productivity and morale, as fund accountants are now able to focus on critical financial analysis rather than repetitive data entry [4].
Moreover, the partnership has resulted in a data-rich, accessible client environment. Clients can now access self-serve options and bespoke reports, improving the overall client experience and differentiating Ultimus in a competitive market [4].
Ultimus offers fund administration, accounting, middle office, and investor solutions for registered funds, private funds, and public plans. It also provides customised structures for pensions, endowments, foundations, and other large institutions [6].
Xceptor's data automation platform is currently serving 125 clients and over 11,500 users across 60 countries [7]. The company provides services to 14 of the top 50 global banks and seven of the top 10 global custodians [8].
Grant Coombe, chief revenue officer of Xceptor, has commented on the expanded partnership with Ultimus Fund Solutions, stating, "We are delighted to continue our successful partnership with Ultimus Fund Solutions. Our advanced data automation platform and AI framework are designed to streamline fund accounting workflows and enable comprehensive data automation and reconciliation, resulting in faster processing times, higher data accuracy, reduced operational risk, and better service delivery for clients" [1].
In summary, the partnership between Ultimus and Xceptor combines Ultimus' fund administration expertise with Xceptor's RPA software, machine learning, and APIs, creating a powerful solution that streamlines fund accounting workflows and enables comprehensive data automation and reconciliation. This results in faster processing times, higher data accuracy, reduced operational risk, and better service delivery for clients.
Read also:
- Hematology specialist and anemia treatment: The role of a hematologist in managing anemia conditions
- Enhancing the framework or setup for efficient operation and growth
- Hydroelectric Power Generation Industry Forecasted to Expand to USD 413.3 Billion by 2034, Projected Growth Rate of 5.8% Compound Annual Growth Rate (CAGR)
- Increased tariffs resulting in higher prices at Shein and other Chinese fast-fashion retailers
