Jackson National Life Insurance has inked a deal with Princeton Financial Systems, for the implementation of its PAM for Securities system and PAM InfoHub for investment accounting, which provides easy access to all stored data, helping firms to prepare report easily and efficiently.
According to the solution provider, PAM facilitates international accounting and reporting requirements for a diverse range of assets and portfolio types.
PAM InfoHub incorporates InfoStream Publish/Subscribe technology to cater reporting data on a near real-time basis, which reduces the time to create multi-currency and multiple accounting basis reports, said the firm.
Jackson investment accounting director Mark Stewart said that the firm carried out extensive due diligence to ensure it had the most comprehensive system for its US-based fixed income securities portfolio accounting.
"As a leading investment accounting system, PAM will provide us with the ability to easily import projected cash flows that would impact amortization and book-yield calculations, as well as the additional functionality of seamlessly exporting information to a variety of different sources," Stewart added.
Commenting on the deal with the insurance firm, Princeton Financial Systems senior vice president Christian J Farber said, "PAM for Securities is designed to provide a comprehensive, efficient solution for firms managing complex portfolios."
Princeton Financial Systems offers investment accounting, investment compliance, data management, performance measurement, and reporting solutions to investment managers, custodians, insurance companies, pension funds, hedge funds, and banks.