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brighter ideas for fixed income accounting

Top US banks rely on Paragon
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Managing business critical tasks within fixed income portfolios used by US banks and other firms

Microchips, digital financial solutions

save money through efficiencies

City centre financial district

provide scalability

Boardroom meeting

deliver board-level reporting

what market problems does Paragon solve?

Many financial institutions have complex operating models for their fixed income investments

The pressures placed on back and middle offices are ever-increasing. Assets are becoming more complex and more stringent regulatory requirements are being established. While these demands continue to grow, the teams supporting these workflows more pressurized and are tasked with finding efficiencies to meet these needs.

To mitigate operational risk, banks, credit unions, correspondent processors and fixed income broker-dealers need to automate workflows, apply significant controls and adopt exception management-based processes, wherever possible.

Common challenges and solutions

Incoherent systems

Multiple systems used to perform accounting and reporting:

Paragon serves as the single book of record, consolidating data and providing access to relevant information to facilitate informed investment decisions

Burdensome manual tasks

Operations teams are constantly having to gather and reconcile data from multiple systems:

Paragon provides automated tools to interface with data providers as well as reconcile custodian statements

Ineffective use of collateral

Inconsistent evaluation of collateral requirements and usage:

Collateral management is a hands-free process using Paragon - evaluate and assign collateral automatically, ensuring the best use of high-quality liquid assets

what Paragon does

Paragon is a fixed income portfolio accounting solution, processing bonds and money market instruments based on three primary business functions: trade capture, processing and reporting

Accounting and position-keeping platforms help banks manage their exposures on a day-to-day basis. When it comes to reporting concise information to executive board members and stakeholders, however, old style paper reports are generally not only dull in presentation style but often lack graphics to provide clarity and reflect notable changes or exceptions.

Paragon offers inventory, cash flow, maturity and management reports that are enriched with visually appealing graphics. This will provide greater insight to all stakeholders and inform decision makers based on data extracted directly from Paragon’s records. This step will avoid the potential errors that can occur if information needs to be manipulated or augmented before being delivered to interested parties.

Paragon has a proud track record of serving a diverse range of financial services organisations – from small community or regional banks to several of the leading US banks. The solution also supports credit unions, fixed income broker-dealers and correspondent banks that provide third party administration services to banking clients.

Paragon is proven over many years to be excellent at handling the full range of complex variable rate instruments with ease:

  • Mortgage backed securities
  • Asset-backed securities
  • Debentures
  • Treasury securities
  • Other fixed-income instruments
  • Money market instruments

Paragon provides comprehensive, exceptions only, unattended processing – able to manage high volumes and complex instruments. This front-to-back office accounting and processing solution addresses complex compliance requirements, transaction processing workflows and flexible reporting.

Paragon ties together the front, middle and back office with dashboards that give a real-time view of the firm’s activity. Users have total control, with integrated tool kits to make adjustments to exceptions as they arise.

Clients benefit from automated processes that get the job done right, every time. This expedites the close of each accounting period, knowing all accounts are reconciled. Our advocates are controllers, treasurers, wealth managers and CFOs, all benefiting from our reporting, audit and regulatory expertise.

Trade capture

Paragon captures trades in multiple ways: a) directly from an OMS platform, b) via a manual trade capture screen – c) via the Paragon HubEDGE application.

Processing

Paragon’s accounting engine handles a variety of investments for both short and long-term instrument types. Paragon utilizes automated processing to create an unattended workflow, designed around exceptions-based processing.

Reporting

Paragon offers facilities to customize standard report outputs or an embedded, fully customizable reporting tool to comply with your business requirements.

key benefits

Improve operating model through efficiencies

Save time

By processing your fixed income trades most efficiently and eliminating month-end reporting bottlenecks.

Compliance

Be entirely confident in meeting obligations – both in daily operations and demonstrating compliance by audit trails.

Board reporting

Inventory, cash flow, maturity and management reports that are visually enriched.

Flexibility

Client-specific system configuration and connectivity.

Scalability

From small local banks to tier one institutions, you have the processing power to support extensive batch processing and calculations.

Standardization

Effective use of structured data.

how it works

A standard model

Paragon is built on a standard model principle, with all functionality available to our entire client base. This means that all developments, enhancements and updates are merged into our standard model, enabling all clients to benefit from our ongoing innovation.

Our standard model also enables fast implementation times. A project can be complete in a matter of weeks for a standard installation, with predictable, low risk integration and minimized people costs. This enables fixed price implementations without the risk of long running projects (associated with solutions that have to be built or heavily configured before they reach a production state).

Deployment options

We recognize that our clients need choices when considering system deployment. Choices that meet our clients’ operational demands, delivery approach and IT strategies. corfinancial offers the flexibility clients expect.

A.

Install Paragon locally on their internal servers within existing network infrastructure.

B.

Deploy Paragon in an existing private cloud environment.

C.

Opt for our hosted cloud services. This is a managed client installation in a client-specific environment, where we monitor, service and manage the infrastructure. 

Paragon is also built to interface with a multitude of internal and external systems making for easy deployment.

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