View all news

State Street’s PAM® Named the Best Portfolio Accounting Platform at the Annual Buy-Side Technology Awards 2020

12/08/2020

BOSTON, December 8, 2020 State Street Corporation (NYSE:STT) today announced the recognition of its accounting solutions and software, PAM®, at the Annual Buy-Side Technology Awards 2020. The awards, launched in 2007 by WatersTechnology, highlight the technologies and services available to global investment management firms to help them manage every aspect of their day-to-day operations, from portfolio management and execution to risk management, performance, accounting, and client and regulatory reporting. 

The insurance industry faces a flurry of changes as insurers target new asset classes and redesign operating models. They are looking to harmonize their data landscape and balance the external compliance drivers with the benefits of platform modernization, business intelligence and powerful analytics. PAM helps insurers aggregate data, integrate workflows, and eliminate redundant costs. It helps insurers discover new insights from their vast data stores, equip the business with real-time portfolio views, and benefit from automated back-office functionality.

State Street is committed to continual investment in PAM, to improve its core architecture for integration, performance, scalability, security, quality and cloud readiness. The core capabilities that set PAM apart in this award category were: 

  • Broad asset class coverage that eliminates the reliance on multiple and manual systems

  • Ability to meet regulatory reporting and compliance requirements across global jurisdictions

  • In-depth cash and security processing, with simplified and automated workflows

  • Data provided in real time, with on-demand analysis and instant access to reports

  • Flexible multi-basis accounting methodologies

  • Versatile deployment options to minimize technology spend and operational risk

  • Robust security and business continuity programs, with highly secure data centers

PAM is an integral part of State Street’s front-to-back strategy. Its comprehensive accounting and management capabilities integrate with State Street AlphaSM, the interoperable platform that gives complete and real-time views across the entire investment lifecycle. 

"Due to a variety of factors, buy-side firms—and specifically insurance companies—are under increased stress, creating the need for advanced tools to measure the success of portfolios. The judging panel felt that State Street’s PAM accounting software stood out among the other entrants due to its breadth of services, its scalability via the cloud, and its automation of front-to-back processing,” said Anthony Malakian, editor-in-chief of WatersTechnology Group. Talking about innovation and continued improvements to the platform, John Arul, head of architecture and application development for PAM, says, “In the past three years, PAM has undergone significant technology transformation. Some of the new capabilities recently deployed include the PAM Operations Manager, PAM Micro Services and cloud-ready containerization. These functional and technological enhancements now offer intelligent automation and powerful integration capabilities, which when combined should result in significant operational improvements for every insurer on our platform.”

  

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $36.6 trillion in assets under custody and/or administration and $3.1 trillion* in assets under management as of September 30, 2020, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of September 30, 2020 includes approximately $81 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Multimedia Files:

View all news