CorrectNet, a provider of web reporting solutions to fund managers, has launched a Cayman Islands-based data center, using hosting facilities provided by Brac Informatics.
“Providing a service that adheres to jurisdictional requirements of half of our market is clearly not negotiable,” says Bob Miller, CEO of CorrectNet. “Brac Informatics was the only company with a facility that met our rigorous hosting standards. Their ISO 17799 compliant facility and redundant network access (OC3 capable) are just some of the things we were looking for. The sensitive nature of financial data and superior application performance requires robust infrastructures.”
The CorrectNet technology enables funds to provide investor/shareholder and fund information securely on the Internet. It consolidates data from multiple systems including portfolio and shareholder accounting, performance, and risk analysis systems and enriches that data with dynamic drill downs, charts, graphs, and third party content and analytics.
“The growing funds market in the Cayman Islands adds to the breadth of services we provide as an International Financial Centre,” says Nancy Ewing, President of Brac Informatics. “Cayman’s competitive advantage is in large part due to our world-class professional services infrastructure. The Cayman Islands have become renowned for having first tier banks, accounting firms, law firms, insurance managers and now fund administrators. Sophisticated, reliable information technology services have become a fundamental component of this professional services infrastructure. We expect the availability of the CorrectNet services, the leading data consolidation tool for asset managers, within the Cayman legal jurisdiction will accelerate the success of our funds industry.”
Brac Informatics is a full service Data and Disaster Recovery Centre licensed and regulated by the Cayman Islands ICTA.