Clearwater Successfully Implements PRISM for Aegon Asset Management to Help Support Business Growth

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN) announced Aegon Asset Management's implementation of Clearwater PRISM, a modern client reporting solution, to enhance client experience and support business growth. Clearwater's SaaS-based platform offers flexibility, scalability, and out-of-the-box data model, reducing IT development risks for Aegon AM. The partnership aims to provide high-quality portfolio data and improve client engagement.

Market Research Analyst

The adoption of Clearwater PRISM by Aegon Asset Management signals a strategic move towards enhancing digital infrastructure in asset management. The integration of a modern SaaS-based client reporting solution can be a significant differentiator in the competitive asset management industry. Asset managers are under constant pressure to provide transparent, accurate and timely data to their clients. Clearwater PRISM's ability to aggregate multi-asset investment data efficiently addresses this need, potentially leading to improved client satisfaction and retention rates.

From a market perspective, such technological advancements can translate into increased trust and credibility for Aegon AM among existing and prospective clients. This trust is critical, as it can influence asset inflows and the firm's market share. Additionally, the scalability of the solution suggests that Aegon AM is preparing for future growth, which might be of interest to investors monitoring the company's expansion strategy.

Financial Technology Expert

Clearwater Analytics' provision of a SaaS-based solution like PRISM to a major player like Aegon AM underscores the growing trend of asset management firms outsourcing complex IT development to specialized providers. This strategy allows asset managers to avoid the high costs and risks associated with in-house IT projects. By leveraging Clearwater's existing data model, Aegon AM may see a reduction in operational risks and an acceleration in their digital transformation journey.

For stakeholders, the key takeaway is the potential for cost savings and increased operational efficiency. These factors could positively affect Aegon AM's profit margins and, by extension, Clearwater Analytics' financial performance as a service provider. The collaboration between the two firms may also serve as a case study for Clearwater Analytics' capabilities, possibly leading to similar deals in the future and impacting the company's stock valuation.

Investment Management Consultant

Implementing a platform like Clearwater PRISM can have profound implications for Aegon AM's investment management processes. The ability to quickly access high-quality portfolio data and respond to client inquiries is not just a matter of convenience; it's a critical component of effective risk management and strategic decision-making. The enhanced data aggregation and reporting capabilities can provide Aegon AM with a competitive edge by enabling more informed investment decisions and proactive client communication.

Long-term, this technological enhancement could lead to more sophisticated investment strategies and better performance outcomes for clients. However, the success of such implementations depends on the seamless integration with existing systems and the ability to adapt to the evolving needs of both the firm and its clients. For the broader investment management industry, this move may signal a shift towards greater reliance on advanced analytics and data-driven decision-making.

Clearwater PRISM Easily Aggregates Multi-Asset Client Investment Data, Enabling Growth and a Differentiated Client Experience

BOISE, Idaho and LONDON, March 19, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based data, investment management, accounting, reporting and analytics solutions, today announced that Aegon Asset Management (Aegon AM) has implemented Clearwater PRISM for its global client reporting needs. Aegon AM is an active global investment business with EUR 305 billion of assets under management as of December 31, 2023.

Clearwater PRISM offers a modern and user-friendly solution, which ensures a differentiated client experience. The flexibility and scalability of Clearwater's SaaS-based client reporting solution will help support Aegon AM in its work to expand its client base and increase asset flows. Moreover, Clearwater's out-of-the-box data model helps to reduce the risks associated with large-scale IT development programs that require extensive funding and resources.

"We are pleased to strengthen our relationship with Clearwater and accelerate our digital transformation with a state-of-the-art data hub. Clearwater PRISM will enable our client services team to quickly access high quality portfolio data and respond to on-demand client inquiries," said Mike Tumilty, COO at Aegon AM.

"This is a story of building a valued partnership with a client and earning the right to expand that partnership," said Sandeep Sahai, CEO at Clearwater Analytics. "We are delighted that an industry leader, such as Aegon AM, is successfully implementing Clearwater PRISM, as its all-in-one client investment reporting solution. Clearwater PRISM empowers asset managers with the insights they need to provide their clients with best-in-class client engagement and service."

Clearwater PRISM is a leading client reporting platform for asset managers, designed for firms that want a comprehensive view of their portfolios that span multiple platforms. The Clearwater PRISM platform enables firms to consolidate information across multiple accounting engines, analytic platforms, and data sources for an all-in-one client reporting solution. To learn more about Clearwater PRISM, talk to an expert today.

About Aegon Asset Management

Aegon Asset Management is an active global investor with 385 investment professionals that manage and advise on assets of USD 338 billion* for a global client-base of pension plans, public funds, insurance companies, banks, wealth managers, family offices and foundations.

About Clearwater Analytics

Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater's trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/clearwater-successfully-implements-prism-for-aegon-asset-management-to-help-support-business-growth-302092093.html

SOURCE Clearwater Analytics

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Clearwater Analytics.

What is the ticker symbol for Clearwater Analytics?

The ticker symbol for Clearwater Analytics is CWAN.

What solution did Aegon Asset Management implement for its global client reporting needs?

Aegon Asset Management implemented Clearwater PRISM for its global client reporting needs.

What is the total assets under management for Aegon Asset Management as of December 31, 2023?

Aegon Asset Management had EUR 305 billion of assets under management as of December 31, 2023.

Who is the COO of Aegon Asset Management?

Mike Tumilty is the COO at Aegon Asset Management.