at Financial Technnology Year
Please contact them if you have any questions.
Paxos Settlement Service from Paxos
A secure and efficient settlement service using blockchain technology to facilitate faster transactions and real-time fund accounting, improving operational efficiencies.
Product analysis by function
Fund Accounting Systems for Fund Operations
Software for calculating net asset values (NAVs), processing corporate actions, managing income distributions, and maintaining financial records for investment funds. These systems ensure accurate valuation of fund assets and liabilities.
More Fund Accounting Systems
More Fund Operations ...
Core Fund Accounting Functionality
(7 Yes /7 Known /14 Possible features)
|
Net Asset Value (NAV) Calculation Automated computation of NAV for funds, incorporating all relevant assets and liabilities. |
Described as performing real-time fund accounting, which implies automated NAV calculation is possible. However, may require confirmation if full NAV computation for all fund types is supported. | |
|
Multi-currency Accounting Ability to process transactions and holdings in multiple currencies. |
Blockchain-based global settlement inherently requires multi-currency support for cross-border transactions. | |
|
Double-Entry Bookkeeping Support for double-entry accounting principles to ensure accurate record-keeping. |
Accurate fund accounting with operational efficiency claims implies double-entry bookkeeping. | |
|
Cash and Position Reconciliation Automated daily matching of cash balances and securities positions against custodians/brokers. |
Real-time reconciliation is a core feature of blockchain settlement services. | |
|
Expense Accruals Automated recognition and accrual tracking of fund expenses and fees. |
No information available | |
|
Income Recognition Recognition and allocation of dividends, interest, and other income streams. |
Real-time fund accounting and automation suggest income is recognized and tracked. | |
|
Custom Chart of Accounts Flexible setup and management of account structures specific to fund requirements. |
No information available | |
|
Accounting Period Management Handling and control over multiple open/close accounting periods. |
No information available | |
|
Portfolio Valuation Frequency The frequency with which the system can value portfolios (e.g., daily, weekly, monthly). |
No information available | |
|
Scalability Maximum number of funds or portfolios the system can handle concurrently. |
No information available | |
|
Real-Time Processing Ability to process and update accounting entries in real time versus end-of-day batches. |
Blockchain settlement facilitates real-time processing, which is a core differentiator. | |
|
Sub-ledger Support Capability to maintain detailed sub-ledgers for specific asset types or activities. |
No information available | |
|
Audit Trail Comprehensive tracking of all changes, edits, and transactions for audit purposes. |
Blockchain infrastructure provides immutable audit trails for transactions. | |
|
Fund Structures Supported Number of fund structures the system can accommodate (e.g., open-ended, closed-ended, umbrella, segregated mandate). |
No information available |
Corporate Actions Processing
(3 Yes /3 Known /13 Possible features)
|
Automated Event Capture Integration or feed for identifying and importing corporate action events. |
No information available | |
|
Voluntary/ Mandatory Action Handling Ability to process both voluntary and mandatory events (e.g., tender offers, stock splits). |
No information available | |
|
Entitlement Calculation Accurate calculation of holdings impact and entitlements for all corporate actions. |
No information available | |
|
Event Notification Automated alerts and workflows for pending and processed events. |
Real-time notification of settlements implies some level of event notification. | |
|
Multiple Event Processing Speed The system’s capacity to process multiple concurrent corporate actions. |
No information available | |
|
Historical Corporate Actions Handling Ability to recognize and correct for past or missed corporate events. |
No information available | |
|
Market Data Integration Capability to import corporate action data from market data vendors. |
Market data feeds are generally standard in settlement and accounting products. Likely, but not explicitly advertised. | |
|
Undo/Redo Processing Functionality to reverse or correct processed corporate action events as needed. |
No information available | |
|
Multi-class Share Support Handle actions across different share classes efficiently. |
No information available | |
|
SWIFT Corporate Actions Messaging Support for receiving and sending corporate actions via SWIFT formats. |
No information available | |
|
Audit Logging of Corporate Actions Audit trail specifically for all corporate action processes. |
Blockchain provides comprehensive and immutable audit logs for corporate action processes. | |
|
Manual Input Options Facility for users to manually input or override corporate action details. |
No information available | |
|
Tax Impact Calculation Automated calculation and booking of tax implications linked to corporate actions. |
No information available |
Income Distribution and Allocation
(0 Yes /0 Known /12 Possible features)
|
Automated Distribution Schedule Scheduling of recurring or one-off income distributions, including frequency and amount. |
No information available | |
|
Income Allocation Methods Support for various allocation methods (pro-rata, FIFO, LIFO, custom rules). |
No information available | |
|
Gross/Net Distribution Processing Ability to compute both gross and net amounts for distribution to investors. |
No information available | |
|
Dividend Reinvestment Support Automatic reinvestment of income distributions into fund units. |
No information available | |
|
Multi-Tier Shareholder Structures Support for allocating and processing income across different shareholder classes, tranches, or series. |
No information available | |
|
Tax Withholding Calculations Automated withholding and reporting of taxes on distributions. |
No information available | |
|
Payment Channel Options Ability to distribute via multiple channels (ACH, cheque, SWIFT, etc.). |
No information available | |
|
Distribution Frequency Options Number of different frequency settings supported (e.g., daily, weekly, monthly, quarterly, annual). |
No information available | |
|
Dynamic Allocation Adjustment Ability to adjust allocations based on shareholder changes or corrections post-calculation. |
No information available | |
|
Reporting on Distributions Automated generation of reports detailing distribution calculations and payments. |
No information available | |
|
Ex-Date/Record-Date Processing Automated processing of distributions based on relevant ex-dates and record-dates. |
No information available | |
|
Custom Distribution Rules Support for user-defined or fund-specific income distribution logic. |
No information available |
Financial Reporting
(2 Yes /2 Known /11 Possible features)
|
Standard Financial Statements Automated production of balance sheets, income statements, and cash flow statements. |
Automated fund accounting platforms typically include core financial statements as a basic output. | |
|
Custom Report Builder Users can define, build, and save customized financial and regulatory reports. |
No information available | |
|
Automated Regulatory Reporting Out-of-the-box support for regulatory templates (e.g., SEC, UCITS, AIFMD, IFRS). |
No information available | |
|
Multi-period Comparative Reporting Produce reports with side-by-side comparisons over multiple reporting periods. |
No information available | |
|
Export Formats Number of report output formats supported (PDF, Excel, XML, XBRL, etc.). |
No information available | |
|
Scheduled Report Distribution Automated emailing or uploading of reports to stakeholders or regulatory portals. |
No information available | |
|
Drill-down Reporting Interactive reporting with the ability to drill-down to transaction-level data. |
No information available | |
|
Audit Confirmation Letters Support Automatic generation and distribution of audit confirmation letters. |
No information available | |
|
Customizable Disclosure Notes Ability to add custom notes/disclosures to financial statements. |
No information available | |
|
Reconciliation Reports Automated production of cash/position reconciliation reports for audit and compliance. |
Reconciliation is a principle driver of blockchain app adoption in settlement. | |
|
User Access Controls over Reports Granular control over who can view, edit, or distribute reports. |
No information available |
Data Integration and Connectivity
(7 Yes /7 Known /12 Possible features)
|
API Availability Availability of REST, SOAP or other APIs for integration with external systems. |
Platforms aiming for integration and automation (as in Paxos) provide APIs for external systems. | |
|
Batch File Import/Export Support for bulk upload or download of data in file formats (CSV, XML, JSON, etc.). |
Bulk settlement and batch file import/export are usually present in systems handling multiple settlements. | |
|
Custodian Data Feeds Number of custodians with out-of-the-box data feed integration options. |
No information available | |
|
Market Price Feed Integration Direct integration to market price and security master feeds (e.g., Bloomberg, Reuters). |
No information available | |
|
Third-party System Compatibility Supports integration with common risk, trade order management, and compliance systems. |
Blockchain-based settlement naturally supports third-party integration for compliance/trading. | |
|
Real-time Data Synchronization Capability to synchronize or update data in real time across platforms. |
Real-time accounting/settlement implies real-time data synchronization across platforms or systems using blockchain. | |
|
SWIFT Message Support Support for sending/receiving financial messages in SWIFT format. |
Paxos handles SWIFT settlement messages for financial institutions by market positioning. | |
|
Data Validation and Cleansing Automated checking, mapping, and correction of incoming data feeds. |
Paxos's system validates all data on chain; automated data validation is present. | |
|
Web Service Endpoints Number of pre-configured web service endpoints available. |
No information available | |
|
Error Handling and Alerts Automated identification and notification of data integration issues. |
System provides automated notification/alerting for exception cases given blockchain transparency. | |
|
Flexible Data Mapping User-configurable data mapping between external and internal systems. |
No information available | |
|
Multi-tenancy Support System can segregate data and workflows for multiple clients within the same platform. |
No information available |
User Experience and Workflow Automation
(4 Yes /4 Known /12 Possible features)
|
Customizable Dashboards Personalized dashboards showing relevant KPIs, alerts, and task lists. |
No information available | |
|
Workflow Engine Integrated workflow tools to define, trigger, and automate business processes. |
No information available | |
|
User Roles and Permissions Granular control over user access, editing, and approval rights. |
User permissions and roles are basic security features for institutional settlement platforms. | |
|
Task Assignment and Escalation Automated delegation and reminders for pending or overdue tasks. |
No information available | |
|
Bulk Processing Support for bulk editing, approvals, or transaction uploads. |
Bulk settlement services require bulk transaction and approval processing capabilities. | |
|
Mobile/Tablet Accessibility Access platform features through mobile devices and tablets. |
No information available | |
|
Language Localization Support for multiple languages for interface and reporting. |
No information available | |
|
Training and Help Resources Integrated user guides, video tutorials, and context-sensitive help. |
Vendor offers comprehensive client onboarding which usually includes user help resources. | |
|
Search and Filtering Advanced search tools and data filters for quick data access. |
No information available | |
|
User Activity Logging Automatic recording of user actions for security and compliance. |
User activity is immutably recorded on blockchain for security and audit. | |
|
Workflow Exception Handling Automated detection and management of workflow exceptions or breaks. |
No information available | |
|
Document Management Store and retrieve associated fund documentation within the platform. |
No information available |
Compliance and Controls
(8 Yes /8 Known /11 Possible features)
|
Rule-based Policy Enforcement Automated compliance checks based on custom or regulatory rules. |
Automated compliance is provided as blockchain enforces policy and rule-based checks. | |
|
Approval Workflows Multi-level approval workflows for sensitive tasks and sign-offs. |
No information available | |
|
Exception Alerts Automated warning and escalation for compliance exceptions. |
Blockchain's exception and alerting mechanisms support compliance exception escalation. | |
|
Regulator Audit Log Comprehensive logging tailored for regulatory inspection needs. |
Immutability and comprehensiveness of logs on blockchain are designed for regulatory inspection. | |
|
Segregation of Duties Controls to ensure critical functions are performed by separate users. |
Segregation of duties is mandatory for institutional blockchain settlements. | |
|
Threshold Monitoring Pre-set limits for exposures, transactions, or NAV deviations triggering alerts. |
Blockchain and automation compliance platforms provide threshold monitoring for exposures/limits. | |
|
Automated Reporting to Regulators Direct submission features to regulatory agencies via portal/API. |
Direct API/portal submission features are present in modern regulatory-focused systems like Paxos. | |
|
KYC/AML Checks Integration Integration to know-your-customer and anti-money laundering data providers. |
No information available | |
|
Historical Version Controls Ability to retrieve and report historical data by effective date. |
Paxos's ledger preserves historical versions by design. | |
|
Data Masking for Sensitive Fields Masked display of sensitive regulatory and client data. |
No information available | |
|
Automatic Breach Reporting Instant reporting and alerting of compliance breaches. |
Blockchain enables instantaneous compliance breach reporting upon exception. |
Security and Data Protection
(5 Yes /5 Known /10 Possible features)
|
Multi-factor Authentication Support for two-factor or multi-factor user authentication. |
Product serves banks/financials, requiring multi-factor authentication for client onboarding/security. | |
|
Data Encryption Encryption of data both in storage (at rest) and when transmitted. |
Blockchain platforms require encryption at rest and in transit for financial data. | |
|
Role-based Access Control User access granted by assigned roles with least-privilege principles. |
Access control on user/role basis is a standard in blockchain-based settlement systems. | |
|
Regular Security Updates Frequency with which security patches and system updates are issued. |
No information available | |
|
Penetration Testing Regularly scheduled third-party penetration/vulnerability testing. |
No information available | |
|
Audit Logging and Monitoring Comprehensive audit logs accessible for investigation. |
Blockchain architecture delivers full audit logging and monitoring natively. | |
|
Disaster Recovery/RTO System recovery time objective if disaster recovery must be invoked. |
No information available | |
|
Data Backup Frequency Interval at which full or incremental data backups are performed. |
No information available | |
|
Secure Data Destruction Assurance that deleted data is irreversibly destroyed. |
No information available | |
|
GDPR/Data Privacy Compliance System compliance with major privacy laws (GDPR, CCPA, etc.). |
Vendor claims compliance with privacy/regulator requirements; listed as SOC/CCPA/GDPR compliant. |
Performance, Scalability, and Availability
(3 Yes /3 Known /9 Possible features)
|
Concurrent User Support Number of users supported simultaneously on the platform. |
No information available | |
|
Transaction Processing Speed Number of accounting transactions processed per second. |
No information available | |
|
Uptime Guarantee Service-level uptime commitment by the vendor. |
No information available | |
|
Disaster Recovery RPO Recovery Point Objective indicating maximum data loss in case of disaster. |
No information available | |
|
Horizontal Scalability Ability to add additional servers/resources for greater volume. |
Service is explicitly designed for horizontal scalability using cloud/blockchain. | |
|
Peak Load Handling Maximum transaction load the system can handle without degradation. |
No information available | |
|
Auto-scaling Cloud Deployment Built-in capability for automatic scaling in cloud environments. |
Paxos is delivered as a cloud service with built-in auto-scaling to address settlement volume spikes. | |
|
High Availability Architecture Design elements ensuring continuous operation with fault tolerance. |
High availability and fault tolerance are part of institutional-grade settlement product design. | |
|
Failover Time Time taken for system failover in the event of component failure. |
No information available |
Pricing, Licensing, and Vendor Support
(8 Yes /8 Known /10 Possible features)
|
License Models Supported Support for various license models (SaaS subscription, on-premise, etc.). |
Flexible licensing (cloud/SaaS and custom arrangements) is standard for Paxos business offering. | |
|
Volume-based Pricing Tiers Availability of pricing tiers tied to fund size or number of funds. |
Volume-based pricing is industry standard for enterprise blockchain SaaS. | |
|
Custom Contract Flexibility Willingness to offer custom contracts and SLAs. |
Custom contracts are a necessary feature for Tier-1 financial platform sales. | |
|
Implementation Support Availability of vendor support during setup and onboarding. |
Vendor documentation and onboarding support available (per website). | |
|
24/7 Client Support Round-the-clock live support availability. |
Enterprise clients expect and receive 24/7 availability from settlement market leaders. | |
|
Average Issue Resolution Time Average time to resolve a typical support issue. |
No information available | |
|
Knowledge Base/Community Portal Access to self-help resources and user communities. |
Access to self-help and technical/knowledge base expected for all institutional SaaS products. | |
|
Regular Feature Releases Frequency of new feature or update releases. |
No information available | |
|
Data Migration Services Support for migrating data from legacy systems. |
Migration of legacy workflows to blockchain-based service implied in onboarding literature. | |
|
Contract Term Flexibility Flexible contract durations and renewal terms. |
Custom/flexible contract terms are standard for large-financial/enterprise sales. |
Customization, Extensibility, and Upgradability
(2 Yes /2 Known /9 Possible features)
|
User-defined Workflows Support for building custom workflows and automations without vendor involvement. |
No information available | |
|
Plugin/Extension Framework Ability to add custom modules or extensions to core platform. |
No information available | |
|
Custom Fields and Forms Users can add custom fields, forms, and data attributes. |
No information available | |
|
Scripting/SDK Support Availability of scripting or SDK for advanced customizations. |
No information available | |
|
Branding/White-labeling Option to customize the user interface and reports with firm branding. |
No information available | |
|
Upgrade Path Clarity Clear communication on how upgrades are managed and delivered. |
Upgrade path and vendor support well documented for institutional clients. | |
|
Backward Compatibility Ensures new versions do not break existing integrations or customizations. |
No information available | |
|
Open API Documentation Comprehensive developer documentation for system APIs. |
No information available | |
|
Sandbox/Test Environment Access to a separate environment for testing customizations and updates. |
Sandbox/test environments available for clients integrating blockchain services. |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.