DST International (DSTi) has signed a strategic alliance agreement with Princeton Financial Systems. Princeton is a subsidiary of State Street, with which DST has joint ventures in fund administration on both sides of the Atlantic. The deal means Princeton can offer DSTi’s OpenDataWarehouse (ODW) technology to its clients.
Princeton’s flagship PAM investment management systems are used by over 370 investment managers, insurance companies, mutual funds, pension funds, hedge funds, endowments, banks, and corporations, which manage combined total assets over US $3 trillion.
ODW is a data hub that collects core accounting information and market data. It serves both as a unified reporting repository, and a data gateway that can feed a diverse set of downstream applications. ODW aims to take the load off core accounting systems and deliver consistent data to whoever needs it.
“We are delighted to work together with DSTi in order to provide enhanced value to our clients,” says Jim Russo, President and Chief Executive Officer of Princeton Financial. “Our goal at Princeton is to find new and unique ways to improve our product offerings OpenDataWarehouse is an excellent product and provides PAM users the means to distribute PAM data commingled with data from complementary systems to facilitate consolidated reporting to both their internal and external clients.”
Mike Winn, DSTi’s group managing director added: “It is a pleasure to see this new and innovative way that two erstwhile competitive companies are working together for the benefit of the end user. As with our recent contract with State Street to include various modules of ODW and HiInvest within their outsourcing solution, it clearly indicates that ODW is the perfect data warehouse for the investment management community.”