Hazeltree selects Necto API for zConnect platform
21 October 2024 US
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Hazeltree, a New York-based and cloud-based treasury and liquidity management platform, has partnered with Necto API to enhance its global bank connectivity network, helping clients to access a broader range of financial data sources.
Clients of Hazeltree's zConnect platform will benefit from Necto's multi-bank API aggregation, which provides a single endpoint for real-time bank connectivity, bank account balances, and intraday payments, streamlining integration processes across jurisdictions.
This integration aims to offer support for hedge funds, private equity firms, and fund administrators by delivering real-time visibility into liquidity, enhancing operational efficiency, and reducing the risk of manual errors.
Paul Gallant, chief product officer at Hazeltree, says: “Necto's API aggregation aligns perfectly with our vision of an integrated platform that automates banking connectivity, improves decision-making, and strengthens financial control.
“This partnership enables us to extend our bank connectivity offerings and enhance the overall value we provide to our clients."
Hazeltree's zConnect platform initially focused on connecting counterparties, such as prime brokers, custodians, and International Swaps and Derivatives Association (ISDA) counterparties for collateral management.
However, the platform has now expanded to support fund administrators and larger private equity firms with their global banking needs.
The platform provides hedge funds with liquidity management, securities financing, and streamlined interactions with prime brokers, the firm says.
Similarly, private equity clients can gain access to global banks, manage subscription lines and credit more effectively, and maintain cash liquidity for GP/LP structures, it adds.
Fintech firm Necto says its network of banking APIs complements Hazeltree's existing connectivity, expanding access to global banks.
This enhanced connectivity aims to support faster reconciliation, real-time data visibility, and improved security through standardised protocols.
Toby Michelmore, head of sales at Necto, adds: “Our collaboration strengthens the financial ecosystem for hedge funds and private equity firms by offering a unified platform for global banking data aggregation. Together, we will help our clients optimise their financial operations and achieve operational efficiency.”
Clients of Hazeltree's zConnect platform will benefit from Necto's multi-bank API aggregation, which provides a single endpoint for real-time bank connectivity, bank account balances, and intraday payments, streamlining integration processes across jurisdictions.
This integration aims to offer support for hedge funds, private equity firms, and fund administrators by delivering real-time visibility into liquidity, enhancing operational efficiency, and reducing the risk of manual errors.
Paul Gallant, chief product officer at Hazeltree, says: “Necto's API aggregation aligns perfectly with our vision of an integrated platform that automates banking connectivity, improves decision-making, and strengthens financial control.
“This partnership enables us to extend our bank connectivity offerings and enhance the overall value we provide to our clients."
Hazeltree's zConnect platform initially focused on connecting counterparties, such as prime brokers, custodians, and International Swaps and Derivatives Association (ISDA) counterparties for collateral management.
However, the platform has now expanded to support fund administrators and larger private equity firms with their global banking needs.
The platform provides hedge funds with liquidity management, securities financing, and streamlined interactions with prime brokers, the firm says.
Similarly, private equity clients can gain access to global banks, manage subscription lines and credit more effectively, and maintain cash liquidity for GP/LP structures, it adds.
Fintech firm Necto says its network of banking APIs complements Hazeltree's existing connectivity, expanding access to global banks.
This enhanced connectivity aims to support faster reconciliation, real-time data visibility, and improved security through standardised protocols.
Toby Michelmore, head of sales at Necto, adds: “Our collaboration strengthens the financial ecosystem for hedge funds and private equity firms by offering a unified platform for global banking data aggregation. Together, we will help our clients optimise their financial operations and achieve operational efficiency.”
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