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Hyper Data Ingestion and Digestion with Cryptoworth

INDUSTRY
Fintech Financial Services
PRODUCTS & SERVICES
Crypto Fund Administration
REGION
Cayman Islands

The Catalyst Group is an innovative financial services firm that utilises the latest technology, extensive automation and a jurisdictional focus to deliver accurate, highly efficient and institutionally scalable products.

50%
Improvement in Data Ingestion
20%
Improvement in Client Onboarding

Enhancing Financial Services with Crypto Acounting Automation

In this case study summary, we describe the collaboration between The Catalyst Group with Cryptoworth, as it has significantly streamlined the firm's data management processes, facilitating rapid adaptation to growing customer demands.

"Cryptoworth has been great partner for our business. They have streamlined our data ingestion process and the rapid turnaround times have helped us to keep up with our growing customer demands." Hans Hao (CPA) Associate Director, The Catalyst Group.

Before: The Challenges

The Catalyst Group faced a series of challenges in its operations:

  • Onboarding Multiple Clients: Each with unique blockchain use cases, necessitating a versatile and adaptable approach.
  • Consolidating Data: Integrating CeFi, DeFi, and market data at a transactional level required for comprehensive analysis and reporting.
  • Meeting Reporting Requirements: Ensuring timely delivery of reports across various intervals - daily, weekly, monthly, quarterly, and annually.
  • Automating Portfolio Snapshotting: Capturing portfolio snapshots at specific hours of the day to maintain up-to-date client records.

The Solution

Cryptoworth's enterprise software emerged as the perfect solution, offering:

  • Streamlined Data Ingestion and Digestion: Facilitating efficient management and analysis of vast data sets.
  • Hyper Connectivity: Enabling tracking of spot and derivative data across various exchanges.
  • DeFi Protocol Tracking: Offering capabilities to monitor hundreds of DeFi protocols across multiple Layer 1 and Layer 2 networks.
  • Automated Reporting and Reconciliation: Providing tools for snapshotting portfolio balances, reconciliation, and report generation programmatically.
  • Flexible FMV Sources: Allowing multiple fair market value source options for enhanced flexibility in reporting.

After: The Results

The implementation of Cryptoworth's solutions has delivered substantial improvements for The Catalyst Group:

  • Enhanced Client Onboarding: Streamlined integration support has significantly reduced turnaround times, facilitating faster client onboarding.
  • Automated Data Reconciliation: The reconciliation process has been improved through automation, ensuring accuracy and efficiency.
  • Increased Reporting Efficiency: Automation of portfolio snapshotting and reconciliation processes has streamlined reporting, making it more efficient.
  • Improved Organizational Data Management: Enhanced data management capabilities within the organization, leading to better decision-making and client service.
  • Streamlined Data Ingestion: The integration of Crypto One APIs has seamlessly connected Catalyst Group’s systems, optimizing data ingestion processes.

"Our partnership with Cryptoworth has not only streamlined our operational processes but also enabled us to maintain a competitive edge by quickly adapting to client needs and market changes." - Hans Hao, Associate Director, The Catalyst Group.

Conclusion

The Catalyst's journey with Cryptoworth showcases the transformative impact of specialized crypto accounting and data management tools in the financial services sector. By embracing Cryptoworth's advanced solutions, The fund administration firm has significantly enhanced its service delivery, operational efficiency, and scalability, setting a new benchmark in the industry.

Discover how Cryptoworth can revolutionize your financial services by contacting our team or signing up for a free trial today.

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