PureFacts Financial Solutions, a leader in revenue management solutions for the investment management industry, today announced that its fee and billing calculation engine will be added to the Wove wealth management platform of Pershing X, a technology provider and new business unit of BNY Mellon.

With the addition of PureFacts, wealth management firms using the Pershing X platform will be able to better account for every dollar of value, with less overhead and more automated, accurate, and repeatable workflows.

“The time is right for PureFacts to be collaborating with the team at Pershing X,” said Robert Madej, Founder and CEO of PureFacts Financial Solutions. “The digital transformation underway in wealth management is happening swiftly and during a time when the global financial landscape has undergone many profound changes itself.”

“The combined power of PureFacts and BNY Mellon Pershing X’s new digital wealth platform, Wove, will help ensure wealth management firms have access to the best solutions—like the daily fee reporting and advanced analytics PureFacts provides—through one interconnected experience,” said Noam Tasch, Head of Revenue, BNY Mellon’s Pershing X.

PureFacts’ end-to-end revenue management platform is the only solution that does true daily calculations, providing:

• Automated allocations and reconciliation of transactions, holdings, and / or assets
• Automated calculation of receivable and payable fees
• Automated asset classification and AI-powered error detection
• Customizable solutions able to handle any rule, condition, exclusion, or exception, including flexible rebate and discount management
• Easy-to-understand reports and dashboards, with actionable insights

PureFacts is changing the financial services game globally. This announcement comes on the heels of the company’s spring 2023 acquisition of Xtiva Financial Systems, a New York based technology firm in the wealth management industry.