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13 May 2020

We’ve Put Your Feedback to Work: The Latest Enhancements in the Geneva Release

By Jonathan Eldridge and Adam Salter

The 20.1 release is the culmination of diligent work in research, development, and testing, with enhancements prioritized in collaboration with our clients. These updates empower SS&C Advent clients through Geneva’s next generation features and technologies to optimize their operational workflows. Enhancements incorporated within Geneva® include new value-added workflows and a modernized, intuitive user interface. 

Geneva supports multi-asset class, multi-currency portfolios and fund structures which deliver value-add improvements for derivatives. These improvements include:

  • A user centric swap reconciliation workspace to ease counterparty reconciliations of cash flows
  • Intuitive user workflows for top side financing adjustments
  • Workflows to simplify common equity swap processing, such as applying opening spreads on trades and re-rating hard to borrow securities.
  • New performance optimization features are incorporated that enhance active tax lot optimization and support for parallel accounting.

 

In addition to the above highlights, Geneva’s interest management workspace has been expanded to include bonds and asset backed securities, allowing users to easily age, write-off, or recover delinquent interest for these asset classes.

As the investment world readies for the LIBOR cessation at the end of next year, Geneva has been proactively preparing for new rates like SOFR with the inclusion of flat compounding on the index vs. the spread and lock out days to rate look-ups. To learn more about how Geneva is staying on top of the LIBOR termination and how adopting new rates like SOFR impacts your business, please visit our dedicated client page on Advent Community.

Lumis, the data governance and exception management solution for Geneva, introduces machine learning capabilities to improve and expedite exception review, reconciliation, and remediation. The 20.1 release of Lumis also features a new automated workflow designer to automate manual tasks and provide additional oversight across operational workflows. A new set of dashboard views allows users and managers to see the status of each step created and the ability to take action on those tasks. These process oriented enhancements facilitate the ability to implement automated controls over any required set of processes and wrap workflow attributes around them including; assignment/re-assignment of users, automated notifications, triggers and dependencies, primary and/or secondary approvals, and alerts for breaching predefined SLA deadlines. 

The feedback from our clients is invaluable and helps to focus and emphasize the various enhancements in each of our bi-annual releases. We take pride in our continuous reinvestment in our solutions to provide our clients with forward-looking solutions. To learn more about the Geneva release, visit the Geneva New Features page on Advent Community.