PureFacts Announces Acquisition of Xtiva Financial Systems
Xtiva grows PureFacts’ platform with cutting-edge technologies and expertise in incentive compensation management. TORONTO, ON, Mar. 30, 2023 – PureFacts Financial Solutions, a leader in revenue management, enterprise reporting, and insights solutions for the asset and wealth management sector, announced today that is has acquired Xtiva Financial Systems, Inc. (Xtiva), the global leader in sales performance and incentive compensation management software for the wealth management industry. This acquisition marks a significant milestone in PureFacts’ growth strategy and reinforces its commitment to delivering exceptional, seamless, end-to-end revenue management solutions to its clients. We’re thrilled to welcome Xtiva to the PureFacts family! Robert Madej, Founder, and CEO of PureFacts “From day one, we have focused on providing our clients with the most flexible and transparent solutions to make growth easier. We know that better revenue management leads to greater revenue growth, and a key piece of that puzzle is developing and managing strategic incentive compensation plans. Our best-of-breed revenue management solution gets even better with Xtiva’s impressive track record and deep domain expertise.” The deal brings together two highly complementary organizations, with PureFacts’ extensive experience and industry-leading infrastructure for gross and net fee calculations and reporting, combined with Xtiva’s cutting-edge technology and expertise in incentive and performance compensation management. Joining forces with PureFacts is a natural next step for Xtiva. Thomas J. Moysak, CEO of Xtiva “Our shared commitment to service excellence and technical innovation, as well as our complementary corporate values, make this a winning combination for both of our two companies and our customers.” Under the PureFacts umbrella, the combined company will offer clients a complete revenue management solution while continuing to deliver the same world-class service and support that has distinguished both Xtiva and PureFacts in the market. Executives on the Xtiva team, including Moysak, will join the PureFacts’ leadership team, reporting directly to Madej. The combined business will benefit from sharing best practices in operations and leadership will work together to integrate both companies’ development, back-office, and go-to-market activities. About Purefacts financial solutions Founded in 1997, PureFacts Financial Solutions is an award-winning provider of revenue management solutions for the investment industry. Serving over 100 clients with a combined 10 trillion in assets under management, PureFacts’ wealth-tech solutions help some of the largest and most recognizable wealth management firms and financial institutions grow revenue through better management of fees and actionable, data-driven insights. Its solutions help firms increase productivity, retain their most valued clients, deliver high-quality advice, and prevent costly mistakes. With offices in Canada, the USA, and Europe, PureFacts has been recognized for its innovation and excellence, most recently receiving the WealthTech100, AIFinTech100, and ESGFinTech100 awards. purefacts.com About Xtiva financial systems Xtiva Financial Systems provides the leading sales performance management (SPM) and incentive compensation management (ICM) systems for the financial services industry. Xtiva’s cloud-based Performance Platform enables financial organizations to drive scalable performance improvement through better business intelligence, sales enablement, talent management and is supported by dynamic and compelling incentive compensation based on a single system of record. 90 financial service enterprises use Xtiva’s software, services and support to maximize their salesforce investments and business performance. Xtiva’s customer-obsessed team is dedicated to ensuring its customers and their partners achieve more every day. purefacts.com/xtiva
PureFacts Revenue Management Platform Selected by GW&K
BOSTON, Feb. 21, 2023 (GLOBE NEWSWIRE) — PureFacts Financial Solutions, a leader in revenue management solutions for the investment management industry, today announced that GW&K Investment Management, LLC, a Boston-based investment firm with over $47 billion assets under management, has chosen its platform for fee calculation, processing, and reporting. PureFacts was chosen by GW&K after an extensive evaluation process, with the goal of consolidating client and institutional fee calculations and billing management under one system for greater firm efficiency. “We’re excited to be working with GW&K,” said Robert Madej, Founder, and CEO of PureFacts. “They came to the table with high standards for a revenue management solution, and we’re humbled that they chose us. We’re confident our platform and commitment to service excellence will improve their effectiveness and productivity, so they can deliver even better service to their clients.” PureFacts’ fee calculation and billing solution enables firms to implement revenue management practices that account for every dollar of value, with less overhead and more automated, accurate, and repeatable workflows. The only solution that does true daily calculations, PureFacts’ end-to-end revenue management solution provides: Automated allocations and reconciliation of transactions, holdings, and / or assets Automated calculation of receivable and payable fees Automated asset classification and AI-powered error detection Customizable solutions able to handle any rule, condition, exclusion, or exception, including flexible rebate and discount management Easy-to-understand reports and dashboards, with actionable insights With a longstanding reputation for being the most accurate and reliable calculation engine on the market, PureFacts prides itself on being a best-of-breed solution provider. Having recently raised $37M in financing, the company has invested heavily in its platform with a focus on improving firm workflows, leveraging the power of AI, and seamlessly integrating with all major custodians, CRMs, banking, portfolio management, and accounting systems. GW&K is looking forward to the partnership with PureFacts and the expertise they bring to the investment management industry with their innovative billing solutions Dino DiFronzo, Principal, Director of Finance About Purefacts financial solutions Founded in 1997, PureFacts Financial Solutions is an award-winning provider of revenue management solutions for the investment industry. Serving over 100 clients with a combined one trillion in assets under management, PureFacts’ wealth-tech solutions help some of the largest and most recognizable wealth management firms and financial institutions grow revenue through better management of fees and actionable, data driven insights. Its solutions help firms retain clients, deliver high quality advice, improve productivity, and prevent costly mistakes. With offices in Canada, the USA, and Europe, PureFacts has been recognized for its innovation and excellence, most recently receiving the WealthTech100, AIFinTech100, and ESGFinTech100 awards. purefacts.com About GW&K investment management GW&K was founded in 1974 to offer innovative investment solutions consistent with its clients’ objectives. Through the years, the firm has successfully introduced a range of equity and fixed income strategies, all of which are actively managed, research-driven and guided by a clear and disciplined investment process. Today, GW&K manages 32 distinct strategies for a diverse client base, including individuals, corporations, public funds, endowments, foundations and financial institutions. As of January 2023, GW&K had over $47 billion in assets under management. www.gwkinvest.com For more information contact Erin Smith VP Marketing, PureFacts Financial Solutions erin.smith@purefacts.com
PureFacts acquires Quartal Financial Solutions to become a global WealthTech leader
PureFacts Financial Solutions, a leading WealthTech provider of fees, reporting and AI-powered predictive analytics solutions, has acquired Quartal Financial Solutions, Europe’s leading provider of fee billing and commission solutions for the financial and insurance industries. This acquisition further strengthens PureFacts’ ability to provide mission critical, AI-driven and regulatory compliant fee solutions to its marquee clients. Additionally, the combined organization expands the company’s global reach to bring market-leading solutions and opportunities to all its stakeholders. These two successful companies both have industry-leading expertise in calculating fees and commissions. Together, they will provide the most powerful fee platform in the global financial marketplace. The combined entity will benefit from strengthening their core capabilities in data aggregation, machine learning and financial industry expertise. This is the second successful acquisition completed by PureFacts this year, coming on the heels of its acquisition of CRM consulting firm, VennScience in May 2020. Led by Gerard Daniels, PureFacts Head of Corporate Development and supported by world class advisors including PricewaterhouseCoopers Corporate Finance Inc. and Goodmans LLP, the team continues to identify strategic acquisitions that best serve its clients and accelerate PureFacts’ strategy. PureFacts global head office will remain in Toronto, Canada while the European head office will be located at Quartal’s office in Zurich, Switzerland. PureFacts CEO Robert Madej will take the helm of the new corporate entity, with PureFacts President Rajini McRae expanding her role to include the global businesses. Quartal CEO Thierry Zuppinger has been appointed as the General Manager Europe and Asia for the combined entity. “With any acquisition or partnership that we undertake, we always ensure our values are aligned and our clients’ interests are at the centre. In this case, we are further excited by the Quartal team’s enthusiasm and the willingness of the key executive team to become shareholders in PureFacts.” – Robert Madej, PureFacts Founder & CEO “We are thrilled about the combination of our businesses and are looking forward to working with Rob and his team, who have proven to be a perfect fit as a strategic partner to Quartal’s business going forward. Joining forces with PureFacts will significantly accelerate our joint journey to becoming a truly global market and mindshare leader in the fee and commission management domain; allowing us to better service our clients globally.” –Thierry Zuppinger, Quartal Financial Solutions CEO About Quartal Financial Solutions Quartal Financial Solutions is a market-leading provider of fee and commission management, and revenue and expense lifecycle management software for the financial and insurance industries. The company was founded in 1999 and currently has more than 30 clients with over 50 software installations in 15 countries across Europe, United States, Middle East, Africa, and the Asia-Pacific region. Their clients enjoy reduced operating costs, higher performances, quick Return on Investment, and reduced technology obsolescence through the use of their technologically advanced solutions. www.quartalfs.com About PureFacts Financial Solutions Ranked a WealthTech100 Company and Top 15 Canadian Innovator, PureFacts provides wealth management solutions for the financial services industry in Canada, the USA, and Europe. PureFacts’ mission is to create meaningful wealth solutions that help people live their best lives. They provide their clients with transformational WealthTech solutions to future-proof their business and accelerate growth by leveraging their expertise in wealth management data aggregation, complex calculations, Artificial Intelligence and machine learning. purefacts.com.