How Nexla Helps Clearwater Analytics Solve Data Integration Challenges in Asset Management

Clearwater Analytics, a public fintech SaaS company, manages and reconciles over $7.3 trillion in assets, with 90% of their reconciliation processes fully automated.They are a leading innovator with 19 US patents and over 25 years of experience, spearheads the integration of Generative AI into the company’s data management processes.
To tackle the complex data integration challenges faced by asset management firms, Clearwater Analytics leverages Nexla’s advanced capabilities. Here’s how Nexla is revolutionizing their data management:

1. Handling Diverse Data Formats

One of the significant challenges in asset management is dealing with various data formats. From financial services data formats like SWIFT and BAI to open formats such as CSV, XML, Parquet, Delta, and Fixed Width, Nexla supports over 30 data formats, including custom parsers. This versatility ensures that Clearwater can seamlessly integrate and manage a wide array of data sources. The ability to handle such diverse formats bidirectionally is crucial for Clearwater, enabling them to aggregate and reconcile vast amounts of data efficiently.

2. Bridging Legacy Systems

Outdated legacy systems often pose significant obstacles to progress, creating bottlenecks and inefficiencies. Nexla streamlines the integration process, effectively bridging the gap between old and new systems. This seamless integration is vital for Clearwater, as it allows them to maintain operational efficiency while transitioning from older technologies to more modern, scalable solutions. By enabling smooth data flow between legacy systems and new applications, Nexla ensures that Clearwater’s operations remain uninterrupted and efficient.

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3. Ensuring Real-Time Data Processing

In the fast-paced world of asset management, real-time data processing is paramount. Nexla’s real-time data processing capabilities ensure that Clearwater can deliver data rapidly, minimizing risks and maximizing profits. This timeliness is crucial for maintaining the accuracy and reliability of financial reports and other critical data. With real-time data processing, Clearwater can provide up-to-date information to their clients, helping them make informed decisions swiftly.

4. Enhancing Knowledge and Application Awareness

Clearwater has developed the Clearwater Intelligent Console (CWIC), which integrates generative AI solutions into various products. CWIC has three key capabilities:

• Knowledge Awareness: Understanding Clearwater’s operations and providing fast, accurate answers to customer queries without the need for prolonged customer support interactions.
• Application Awareness: Recognizing the specific applications users are operating within and providing relevant reports and insights.
• Data Awareness: Understanding user data and its context within reports, allowing for detailed, data-driven responses to complex queries.

5. Fine-Tuning AI Models for Specialized Tasks

Clearwater utilizes generative AI systems to create specialized models that cater to regulatory and accounting needs. Fine-tuning these models requires clean, curated data, which Nexla helps provide. By leveraging Nexla’s data integration capabilities, Clearwater can develop AI models that deliver high accuracy and reliability, ensuring that their AI-driven solutions meet the specific needs of their clients.

Driving Asset Management Excellence with Nexla

By integrating Nexla’s enterprise-grade AI + Data Integration Platform, Clearwater Analytics not only enhances its data management capabilities but also drives operational success. Nexla’s solutions empower Clearwater to stay at the forefront of the asset management industry, continuously innovating and improving their data processes. The partnership with Nexla allows Clearwater to deliver top-notch services to their 13,000+ users, maintaining an impressive net promoter score above 60. Nexla’s ability to handle diverse data formats, bridge legacy systems, ensure real-time processing, and consolidate data streams plays a pivotal role in Clearwater’s ongoing success and innovation in the asset management sector.

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