Archway and Canoe Forge Path to Further Advance Alts Data Management for Family Offices Using the Archway Platform

Since 2020, collaboration and a desire to solve complex financial problems have been at the core of Archway and Canoe Intelligence’s strategic partnership. Throughout the years, Archway’s experience working with nearly 600 ultra-high-net-worth families through the Archway Platform has made them acutely familiar with the challenges family offices face when it comes to collecting and reporting on alternative investment data.

Coupled with Canoe’s innovation and vision in the alts technology space, where the Canoe platform covers 42,000 active funds across $8T in Assets Under Management or Advisement for its 325 alternative investor clients, our teams knew early on there was an immense opportunity to streamline alternative investment data management within the family office space.

Recently, the two teams have been working on the next iteration of our partnership as we develop a more robust integration between the Canoe and Archway platforms.

This integration between Canoe and Archway automates the transmission of private equity and hedge fund valuations, as well as Private Equity Call and Distribution data. Moreover, Hedge Fund subscriptions and redemptions extracted from Canoe can be effortlessly imported into Archway.

In this article, we share how the two technologies are teaming up to test and build this expanded integration—and how we believe it can level up the operational efficiency for our mutual family office clients.

Common Challenges in Alts Data Management

Alternative investors, particularly family offices, navigate a complex landscape fraught with challenges when it comes to managing alts data. Among these challenges are data silos, where crucial information is scattered across multiple systems and platforms, making it difficult to obtain a comprehensive view of investments. Additionally, the reliance on manual data entry introduces a significant risk of human error and inefficiency, consuming valuable time and resources.

Compounding these issues is the lack of standardized data formats, further complicating the integration and analysis of disparate data sources.

In response to these challenges, Archway Family Office Services and Canoe Intelligence are expanding their strategic partnership and integration methods. By automating data transmission and ensuring data consistency, the integration streamlines the process of accessing and integrating alts data. This not only enhances operational efficiency but also mitigates the risk of errors, empowering family offices to make informed decisions with confidence.

How Canoe Enhances Archway’s Platform

• Automated Fund and Allocation-Level Data Extraction: Canoe's integration with the Archway Platform facilitates automated extraction, validation, and delivery of fund and allocation-level data.
• Pricing Updates: Canoe seamlessly updates pricing information in Archway, providing alternative investment valuation data extracted as soon as received and processed.
• Effortless Management of Capital Calls and Distributions: Canoe automates the process of updating Archway with capital call and distribution transactions.
• Streamlined Subscription and Redemption Transactions: Canoe generates extracts of subscription or redemption transactions, which can be uploaded directly to Archway.

Archway’s Platform at a Glance

Archway's Platform serves as a comprehensive wealth management technology solution tailored specifically for family offices. With Archway, family offices gain access to a wide range of benefits, including a 360-degree view of clients' wealth, enhanced operational efficiency, improved data accuracy and reliability, and robust operational and client reporting.

Bringing the Integration to Life

Prior to launching beta testing for the integration in late 2023, the Archway and Canoe teams worked in concert to automate data flows, normalize values, and define accounting rules and transaction mapping across systems.

The teams collaborated on extensive internal testing to validate the effectiveness and reliability of the integration, with the intent to not only automate the transmission of alternative asset data between platforms, but to simplify the complex nature of accounting for alternative investment transactions.

Through rigorous analysis and learning, the team identified and addressed potential challenges, fine-tuning the integration to meet the unique needs and requirements of family offices.

Now in its beta testing phase, the team continues to collect invaluable real-world perspectives, helping to guide iterative improvements and ensuring alignment with client expectations.

To date, Canoe has processed 150,000+ documents on behalf of Archway’s clients. Additionally, this collaborative effort has positioned two dozen mutual clients to automate the transmission of data across 3,400+ alternative investments, underscoring the substantial impact of the integration on operational efficiency and data management accuracy.

What's Coming Next

Looking ahead, Archway and Canoe are finalizing the initial integration offering with plans to expand the universe of data available to mutual clients seeking to automate the transmission of their alternative asset data. This next phase promises to unlock new levels of efficiency and value for family offices leveraging the combined power of the Archway’s Platform and Canoe Intelligence.

As Archway continues to leverage Canoe's capabilities, clients can expect further enhancements that drive continued scale and elevate client satisfaction. With a commitment to innovation and excellence, Archway and Canoe are poised to shape the future of alts data management. Stay tuned for more updates as the integration nears launch later this year.

Disclaimer: All statistics as of March 31, 2024.

Originally published by Canoe Intelligence.