Paladyne Systems has announced that Maples Finance has implemented the PALADYNE® product suite as its middle- and back-office solution. Maples Finance licensed Paladyne’s ASP platform, a software, hosting and managed IT solution as well as Advent’s Geneva® as its global accounting engine, all of which was implemented by Paladyne and included as part of Paladyne’s hosted platform.

Maples Finance selected Paladyne to streamline its middle- and back-office operations and to expand its middle-office services capabilities to include: trade confirmation and settlement processing, counterparty reconciliation, daily P&L and NAV reporting, reference data management and corporate actions processing, enhanced pricing services, and integrated risk reporting.

“After an extensive due diligence process, we concluded that the core functionality provided by the Paladyne platform would not only allow us to streamline our operations at significantly less cost, but would provide us with a platform to build out a comprehensive middle-office services solution for our clients,” said Scott Somerville, Director of Fund Administration at Maples Finance. “We believe that Paladyne’s platform, when combined with the bespoke integration and custom reporting solutions developed by our in-house IT professionals, provides us with a significant competitive advantage amongst fund administrators in terms of scale, control, and scope of services.”

Sameer Shalaby, Chief Executive Officer of Paladyne Systems, said that Maples Finance was differentiating itself from competitors with expanded services and automation. "Paladyne's solution suite allows for efficiencies enabling administrators to free up resources that can be better used on client services and revenue generating activities," Shalaby said. “By leveraging Paladyne’s ASP solution, Maples Finance will provide a highly competitive offering leading to increased scalability, productivity, and growth.”