Global fintech firm InvestCloud Inc. announced on Wednesday it has been selected by Grinnell College as its endowment platform. The company reported that the Iowa liberal arts college will use its InvestCloud Navy service to simplify investment management, improve efficiency and centralize data.
According to InvestCloud, Grinnell College selected InvestCloud Navy due to the fact that it supports multi-asset-class portfolios and can directly scale in line with business evolution. The college will also be able to take advantage of InvestCloud’s Digital Warehouse, which allows investors to view all information in one place, helping to make better-informed decisions. Paige Carlson, Director of Investment Operations at Grinnell College, stated:
“Currently, our data is stored across various programs and file types, which makes reporting more onerous. Working with InvestCloud, we are hopeful we can significantly improve internal performance reporting and analytics, which will allow all members of our team to better monitor portfolio performance.”
Mark Trousdale, EVP at InvestCloud, also commented:
“Digital is taking over all financial segments – and the endowments sector is no different. Grinnell College is the exact type of client we had in mind when designing the Navy solution: one that recognizes the power of data and wants to harness it to deliver efficiencies and results. Our recent upgrades to Navy’s functionality reflect our commitment to helping this sector leverage 21st century solutions.”
InvestCloud went on to add earlier this year it made significant upgrades to the Navy product specifically for pensions, endowments and foundations segments. These upgrades included new asset allocation apps that offer multiple views on multiple data types. The product also provides extremely flexible maker-checker-authorizer workflows and unique Error Shield protection for stress-free data entry and impact analysis.