Corporations Can Leverage Clearwater to Manage
Their Investments in Black-Owned Businesses & Minority
Communities, Fulfilling ESG/DEI Obligations
BOISE,
Idaho, Feb. 22, 2023 /PRNewswire/ -- Clearwater
Analytics (NYSE: CWAN), a leading provider of SaaS-based investment
accounting, reporting, and analytics solutions, today announced
that its investment accounting and reporting platform is the anchor
of a fully FDIC-insured deposit program, brought to market by
OneUnited Bank and IntraFi. As the largest Black-owned bank in the
U.S., OneUnited is dedicated to empowering minority customers, and
is designated by the U.S. Department of Treasury as a Community
Development Financial Institution (CDFI) and Minority Depository
Institution (MDI).
![Clearwater Analytics (PRNewsfoto/Clearwater Analytics, LLC) Clearwater Analytics (PRNewsfoto/Clearwater Analytics, LLC)](https://mma.prnewswire.com/media/1502063/Clearwater_Analytics_Logo.jpg)
OneUnited Bank and IntraFi have collaborated to create a fully
FDIC-insured deposit program, with Clearwater Analytics providing
the technology platform for mutual corporate clients to easily
manage and access their deposit information. Clearwater's corporate clients will be able to
manage their deposits like other securities, regardless of their
size. Additionally, their deposits would qualify as ESG/DEI
investments, giving corporations a one-stop vehicle to fulfill
their reporting and fulfillment obligations.
Clearwater empowers treasury
departments within large corporations to easily track and manage
their deposits in minority-owned banks, that in turn, provide
needed capital to minority communities. OneUnited Bank, which is
seeking corporate deposits from $1
million to $50 million, will
use its financial resources to deliver state-of-the-art,
affordable, and accessible financial products and services to
people living in low-to-middle income communities.
"OneUnited Bank is unique because it has developed a financial
technology platform that allows the company to use customer
data and artificial intelligence to create financial products and
services that can significantly impact financial literacy and
personal financial challenges nationwide," said Kevin Cohee, Chairman and Chief Executive
Officer at OneUnited Bank. "In addition, the company utilizes its
technology to create and distribute critically needed affordable
access products and services to historically underserved minority
populations."
"We are choosing to make an impact by partnering with OneUnited
Bank to empower low-to-moderate income people across the nation,"
said Scott Erickson, President,
Americas and Asia at Clearwater
Analytics. "Clearwater cares
deeply about making an impact in the communities in which we
operate and live. We're proud to provide our world-class technology
platform as the backbone for this program and encourage other
Fortune 500 corporations to partner with OneUnited Bank to support
minority communities."
Learn why leading corporations choose Clearwater for their investment accounting and
reporting needs.
About OneUnited Bank
OneUnited Bank (www.oneunited.com) is the
largest Black-owned bank in America, the first
Black-owned digital bank, a Minority Depository Institution (MDI),
and a Community Development Financial
Institution (CDFI). To view the CNBC documentary on
OneUnited's national impact, click here.
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading
SaaS solution, automates the entire investment lifecycle. With a
single instance, multi-tenant architecture, Clearwater offers award-winning investment
portfolio planning, performance reporting, data aggregation,
reconciliation, accounting, compliance, risk, and order management.
Each day, leading insurers, asset managers, corporations, and
governments use Clearwater's
trusted data to drive efficient, scalable investing on more than
$6.4 trillion in assets spanning
traditional and alternative asset types. Additional information
about Clearwater can be found
at clearwateranalytics.com.
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SOURCE Clearwater Analytics