State Street Selects FundGuard to Deliver Accounting Solution for State Street Alpha

State Street (NYSE:STT) announced that FundGuard has been selected to serve as a strategic accounting solution for State Street Alpha. 

FundGuard is a highly scalable cloud-native investment accounting, fund accounting, and contingency NAV solution. The FundGuard accounting solution will be integrated for straight through processing from portfolio management and trading in the Charles River Investment Management Solution through to custody and administration. A co-engineered technology-only solution that spans front office and accounting capabilities will also be natively available within the platform for Charles River clients.

"FundGuard has created a leading next generation multi-book accounting engine and we are excited to work with them as a strategic partner within the Alpha platform to better serve our clients," said John Plansky, head of State Street Alpha. "Accounting services are a fundamental pillar of Alpha, and embedding FundGuard's capabilities into our platform will provide clients with the critical data they need to transact and better understand the performance of their investments."

State Street Alpha is the investment industry's first modern cloud-native platform that offers institutional investment and wealth managers integrated functionality to support portfolio management, compliance, trading, accounting, performance measurement, fund administration and custody functions, underpinned by a common data platform and enterprise data management.

"The selection of our firm by State Street marks a very exciting moment for FundGuard," said Lior Yogev, CEO and Co-Founder, FundGuard. "Our technology has enabled clients to be more operationally efficient and bring new and innovative products to market faster. Integrating our investment accounting utility into State Street Alpha presents us with a key opportunity to manage the speed and volume of data and deliver the real-time insights clients are looking for."

FundGuard's capabilities will ultimately be implemented by State Street for its Alpha clients that offer mutual funds and ETFs, alternatives, insurance, and pensions.