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US Patent for Reconciliation Solution Affirms Vestmark’s Innovative Technology

Tuesday, November 27, 2012

Vestmark, a leading innovator of advisory solutions and wealth management technology, today announced that it was awarded a US Patent for its streamlined reconciliation solution available through VestmarkONE, the firm’s unified wealth management platform.

US Patent 8,175,943 B1 “System and Method for Reconciling Financial Records” patent describes a range of unique functionality and capabilities invented by Vestmark to streamline and enhance the reconciliation process for financial institutions, including:

  • Auto-acceptance of vales and transactions provided by the custodian or system-of-record based on user-defined rules
  • Automatic pairing between unmatched transactions and open trade orders
  • Reconciliation of back-dated transactions
  • Accommodation of settlement-date positions and trade-date positions, ignoring breaks that are solely due to timing differences of reflected positions

“Vestmark is proud to build on our history of innovation by providing our customers with solutions that bring an unprecedented level of scale, efficiency and data accuracy to reconciliation operations, improving the timeliness and precision in critical functions such as trading and performance measurement,” said Heeren Pathak, Chief Technology Officer of Vestmark.

About Vestmark

Vestmark provides VestmarkONE, a unified wealth management platform offering comprehensive, real time technology that enables Broker-Dealers, investment managers, RIAs, bank trusts, and other financial firms to deliver holistic wealth management and a full range of advisory solutions. Vestmark's experienced team works closely with clients to implement tailored solutions incorporating best practices that help firms gather more assets, increase efficiencies and minimize operating risks. For more information about Vestmark's solutions, please call 781-224-3640, email or visit

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