Clearwater Analytics, the SaaS solutions provider, has announced that it has been selected to provide data aggregation and reporting solutions for the Office of the Chief Financial Officer (OCFO) of the Government of the District of Columbia.
By implementing Clearwater’s technology, the OCFO intends to continue its policy to ensure the safety, liquidity, and incremental return on investment of its financial assets.
Through the partnership, Clearwater will provide the OCFO with consolidated portfolio operations for streamlined investment accounting and reporting.
Grace Lee, financial investment manager at the OCFO, said: “As an aggregator of banking and investment data, Clearwater provides financial analysis for the District’s custody relationships, investment managers, and other technology vendors.
“We have initiated a new treasury management system and taken advantage of other services and offerings that were simply too complex to consider in the past.”
The Clearwater solution currently reports on over $5.5tn assets daily, providing automated investment data, aggregation, reconciliation, accounting, and reporting services.
Scott Erickson, chief operating officer at Clearwater, said: “The OCFO’s adoption of innovative technologies like Clearwater makes them a leader among US state and local governments.
“They are ahead of the curve in grasping and applying the fundamental benefits of automation and managed services for important tasks like reconciliation. We are so excited to work with their team.”