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24th January 2024: Three Rock Capital streamlines EMIR Oversight with Fund Recs – Go to Press Release

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  • 24th January 2024

    Three Rock Capital streamlines EMIR Oversight with Fund Recs.

    Dublin, 24th January 2024 - Fund Recs, a leading provider of cloud-based reconciliation software for the global Funds Industry, is pleased to announce that Three Rock Capital Management (TRCM) is using our cloud solution to automate its EMIR Oversight workflow. TRCM are a UCITS Management Company and Alternative Investment Fund Manager, based in Dublin, and regulated by the Central Bank of Ireland.
     
    TRCM can now be more efficient in meeting their EMIR obligations by centralising their reconciliation processes and minimising the number of manual interventions. This ensures higher data quality and full transparency across their EMIR reporting process and helps them deliver on their commitment to operational excellence and regulatory compliance.
     
    "We are delighted to embark on this exciting journey with Fund Recs," commented
    Fergal Cox, COO at Three Rock Capital Management. "Fund Recs' EMIR platform aligns perfectly with our commitment to operational excellence. Fund Recs are playing an important role in ensuring we have effective and efficient oversight in place to meet our EMIR reporting obligations."
     
    "We are excited to be working with the team at Three Rock Capital Management,” said Fund Recs CEO, Alan Meaney. "EMIR Oversight continues to be a high priority for firms and at Fund Recs we provide our clients with an automated solution to ensure their data remains complete and accurate. We are delighted with this collaboration to support another client in meeting their regulatory obligation."
     

    About Three Rock Capital Management
    Three Rock Capital Management Limited is based in Dublin, Ireland. The firm is authorised to operate as a UCITS Management Company and an Alternative Investment Fund Manager by the Central Bank of Ireland.

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

  • 27th June 2023

    BDO Pairs with Fund Recs to Further Accelerate Digital Efficiency and Enhance Data Governance 

    Dublin, 27th June 2023 - Fund Recs, a leading provider of cloud-based software solutions for the investment management industry, is proud to announce that BDO USA, LLP, one of the nation’s premier accounting and advisory firms, has implemented Fund Recs’ platform to streamline portions of its work related to the testing of investments. As part of the collaboration, BDO is leveraging Fund Recs' Fusion module, a No Code, data transformation platform that enables business users to automate several data processes. 

    "We are committed to delivering innovative solutions to our clients that provide value and drive quality," said Brian Miller, Assurance Partner for BDOADVANTAGE, BDO USA’s digital audit suite. "Fund Recs' Fusion module is an important addition to our technology stack. By leveraging Fund Recs' advanced automation capabilities and minimizing manual touchpoints, we have been able to reduce the time required to process broker statements and have improved overall audit quality. We are excited to work with Fund Recs and look forward to how their technology will continue enabling the delivery of exceptional results to our clients and an exceptional work experience for our people."

    Fund Recs' platform empowers end users to scale transformations without the need for a developer, providing companies like BDO with greater flexibility and control over investment data related to its testing workstreams. By normalizing data sets into required formats, Fund Recs can help simplify downstream reconciliation processes, reducing the time and effort required to complete these critical tasks.

    "We are thrilled to work alongside BDO to help them achieve greater efficiency and flexibility in their work," said Alan Meaney, CEO, Fund Recs. "Our platform is designed to help firms of all sizes and complexity levels improve their data management processes, and we are proud to have delivered tangible benefits to BDO."

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

  • 12th June 2023

    Aspect Capital automates Regulatory Reporting Reconciliations with Fund Recs

    Dublin, 12th June 2023 - Fund Recs today announced that Aspect Capital (‘Aspect’), the $8bn systematic investment manager has gone live on Fund Recs Velocity platform to automate the reconciliation process of their EMIR regulatory reporting.

    Velocity is a set of software modules that helps global fund administrators, investment managers and auditors achieve straight through reconciliations. Aspect uses Fund Recs Velocity platform to further support the automation of their EMIR reporting, ultimately increasing efficiency, speed and accuracy.

    Stephen Martin, Co-Head of Middle Back Office at Aspect, said:  “We are always on the look- out for innovative technology to improve and strengthen our processes. The Fund Recs Velocity platform is serving as a valuable tool to ensure the accuracy of our EMIR Regulatory Reporting and provides important metrics on the matching rates of our submissions. We were delighted with the seamless implementation of the platform and look forward to working further with Fund Recs.’ 

    Fund Recs CEO, Alan Meaney, said: “We are excited to be working with the Aspect Capital team and are delighted they have chosen Fund Recs as the solution to meet their reconciliation needs. Our innovative, automated model helps reduce operational risk and will also provide additional transparency. We look forward to developing our relationship with Aspect as they continue to create value for their clients while ensuring their rec process is as seamless as possible.’’

    About Aspect Capital

    Aspect Capital is a London-based systematic investment manager which applies a systematic and quantitative approach to investment management. Founded by industry pioneers Anthony Todd and Martin Lueck, Aspect has over 25 year history of providing innovative products and diversifying performance to investors worldwide. Aspect combines scientific principles and leading-edge technology to create diversifying investment solutions, and strives to continuously improve every facet of the investment process and generate valuable returns for investors. The company currently manages USD8billion in a variety of investment solutions spanning three broad categories: trend following, macro & currency and multi-strategy & customised solutions. 

    Find out more at: www.aspectcapital.com

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

  • 9th May 2023

    CACEIS in Ireland selects Fund Recs to increase the automation of Position Reconciliations and Cash Flow Monitoring

    Dublin, 9th May 2023 - Fund Recs today announced that CACEIS Bank, Ireland Branch (CACEIS), has selected Fund Recs to introduce further automation to the performance of Position Reconciliations and Daily Cash Flow Monitoring.

    The rollout of Fund Recs’ Cash Flow Monitoring Module within CACEIS has further automated the daily oversight of cash transactions in the bank accounts of its UCITS and AIF clients. This creates further efficiencies within a key activity for Depositaries.

    Fund Recs’ Position Reconciliations Module helps global fund administrators, investment managers, depositaries and auditors to achieve ‘straight through’ reconciliations. CACEIS has implemented the Position Reconciliations Module to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

    Alan Meaney, CEO of Fund Recs, said “We’re excited to be working with a leading Asset Servicing provider like CACEIS to assist with ensuring that further automation of manual oversight tasks is met with ease. CACEIS teams using the software can now focus on what they do best: delivering a great service to current and prospective clients. This is another great vote of confidence in our award-winning software as we remain focused on delivering efficiencies and improved client experience through automation within the financial services industry.”

    Isabelle Porte, Managing Director CACEIS Bank, Ireland Branch said “The implementation of the Fund Recs Cash Flow Monitoring and Position Reconciliation Modules will ultimately increase efficiency by eliminating manual processes, reducing the risk of errors, and raising the automation rate throughout our reconciliation process. We are excited to explore additional opportunities their software has to offer as we continue to grow and expand our service offering”.

    About CACEIS

    CACEIS is the asset servicing and banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. 

    At the end of 2021, CACEIS had $5.2 trillion in assets under custody. CACEIS is a worldwide leader in Asset Servicing, the no. 1 administrator and the second largest depositary bank of European funds. With a strong presence in Europe, as well as North America, Latin America and Asia, CACEIS employs 4,665 staff members in 15 countries.

    Find out more at: www.caceis.com

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

  • 3rd May 2023

    Link Fund Manager Solutions Ireland expands regulatory oversight model using Fund Recs EMIR reconciliation module

    Dublin, 3rd May 2023 - Fund Recs, a leading provider of cloud-based reconciliation software for the global funds industry, and Link Fund Manager Solutions Ireland (LFMSI), part of Link Group, a global provider of financial administration solutions, have announced the extension of their partnership on the use of the EMIR Reconciliation module.

    Fund Recs' EMIR Reconciliation module is part of the Velocity platform, a suite of cloud-based software modules that help investment managers, 3rd party ManCos, AIFMs, and fund administrators achieve straight-through reconciliations and data processing in their middle and back offices. 

    The EMIR Reconciliation solution offered by Fund Recs will enable LFMSI to automate the EMIR trade reconciliation process and achieve greater oversight of its regulatory reporting obligations.

    Michael Greaney, Managing Director of Link Fund Manager Solutions (Ireland) Limited comments: “The automation of our EMIR reconciliations is a significant milestone in the development and growth of our business. Their EMIR Reconciliation module is a key component of our overall strategy to streamline our operations and enhance our regulatory compliance. 

    “Building on our excellent relationship with Fund Recs ensures that we have the platform and expertise we need to ensure that our reporting meets the highest standards. As client needs evolve, it is imperative that our solutions anticipate and meet them. Ultimately, partnership will mean a faster, more agile, and smoother reporting experience for current and future clients."

    Fund Recs CEO, Alan Meaney, comments: "With regulators increasingly focusing on data quality, it is imperative to have robust oversight in place to ensure that reported trades are complete and accurate. Our EMIR Reconciliation solution is designed to help firms like Link achieve greater efficiency and accuracy in their regulatory reporting processes. We look forward to continuing to support Link as it delivers excellence for its clients and continues to evolve its proposition."

    About Link Fund Solutions 

    Link Fund Solutions, part of Link Group, is an independent provider of Authorised Fund Manager (AFM) services for £125bn of UK, Ireland and Luxembourg regulated funds with over 40 years’ experience of regulatory and administrative services including the establishment and ongoing servicing of the funds, working in partnership with investment managers, wealth managers, boutiques and sponsors. 

    Find out more at: www.linkgroup.eu

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.

  • 14th December 2022

    Kaufman Rossin Alternative Investment Services and Fund Recs announce alliance to enhance client service experience

    Dublin, 14th December 2022 - Fund Recs today announced that Kaufman Rossin Alternative Investment Services (KRAIS) is using the Fund Recs Velocity platform to automate cash and position reconciliations. Part of the Kaufman Rossin Group, KRAIS is a full-service fund administrator that provides outsourced fund administration, tax, regulatory, audit and advisory services to the alternative investment industry.

    Velocity is a set of software modules that helps global fund administrators, investment managers and auditors achieve straight through reconciliations. KRAIS has implemented the Velocity platform to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

    Robert Alonso, Managing Director, said: ‘’Kaufman Rossin Alternative Investment Services is an invaluable resource and partner for fund managers and GPs. By implementing best in class technology like the Fund Recs Velocity platform, we can enhance the exceptional service experience we provide to investment firms and their funds. We look forward to using Fund Recs’ innovative reconciliation platform and their approach to automating reconciliations.’’ 

    Fund Recs CEO, Alan Meaney, said: “We are thrilled to be working with the KRAIS team as they provide full-service fund administration while leveraging our industry leading solution. We look forward to developing our relationship with KRAIS as they continue to deliver for their clients.”

    About KRAIS
    Kaufman Rossin Alternative Investment Services is a full-service fund administrator. It is part of the Kaufman Rossin Group, which was founded in 1962 and has more than 500 employees serving the needs of clients in dozens of countries. Kaufman Rossin Alternative Investment Services provides a full suite of services: onboarding (setup); administration, including fund accounting, investor services, treasury services, audit liaison and financial statement footnote preparation; tax services; and regulatory reporting related to the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). 

    Find out more at: www.kaufmanrossinais.com

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 9th December 2022

    Fund Recs to automate EMIR Reconciliation for Neuberger Berman

    Dublin, 9th December 2022 - Fund Recs today announced that its Velocity platform will automate EMIR reconciliations for Neuberger Berman, a private, independent, employee-owned investment manager with $418 billion in client assets. 

    Completing an EMIR trade reconciliation is integral to having effective oversight in place on the EMIR reporting process. Regulators are focusing heavily on data quality and firms need to ensure they have sufficient oversight in place to confirm that reported trades are complete and accurate. 

    Fund Recs’ EMIR Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator.

    Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met.

    Fund Recs’ EMIR Reconciliation solution is part of the Velocity platform. Velocity is a set of cloud-based software modules that helps Investment Managers, 3rd Party ManCos, AIFMs and Fund Administrators to achieve straight-through reconciliations and data processing in their middle and back offices. 

    Alex Duncan, EMEA Operations Director at Neuberger Berman said “We were looking for a provider who was able to support our continued drive to implement best in class solutions to meet our regulatory reporting obligations. Specifically for EMIR reporting, and given the broad nature of our business, we were looking for a partner to automate our oversight of delegated reporting across a wide range of funds and segregated accounts. Fund Recs have both the platform and the people to meet our needs.” 

    Fund Recs CEO, Alan Meaney, said: “Neuberger Berman are a leader in the investment management industry, and we are delighted they have chosen Fund Recs to support their oversight obligations for EMIR. At Fund Recs, we are seeing accelerating interest and adoption of our regulatory solutions supporting EMIR, SFTR and ASIC. Data quality is a top priority for regulators globally and firms are looking to platforms, like our own, to strengthen the compliance and governance around their reporting process.” 

    Information on Neuberger Berman can be found at www.nb.com.

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 22nd November 2022

    Channel Capital automates ASIC Reconciliation Oversight with Fund Recs

    Dublin, 22nd November 2022 - Fund Recs today announced that Channel Capital, a multi-boutique global funds management business headquartered in Australia, has selected the Fund Recs Velocity platform to fully automate its ASIC (Australian Securities and Investments Commission) Reconciliation process.

    Fund Recs’ ASIC Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator. Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met. 

    ASIC is responsible for administering the derivative trade repository licensing regime and for making and enforcing derivative transaction rules that establish mandatory requirements that apply to reporting, clearing and execution of derivative transactions. 

    Josh Yeo, Chief Operating Officer at Channel Capital said “We are delighted to be able to broaden our partnership with Fund Recs. We have built a strong relationship with the Fund Recs team, and as we continue to enhance our services and grow, the  best-in-class software will greatly assist us and our investment manager partners with automation and further business efficiencies.”

    Fund Recs CEO, Alan Meaney, said: “We are really excited to be expanding our relationship with Channel Capital and to support their ASIC oversight obligations. The addition of ASIC Recon Oversight to our expanding Regulatory Rec offering is an exciting step for Fund Recs and we look forward to continuing to add more in this space.”

    About Channel Capital

    Channel Capital is a multi-partner asset management business dedicated to building and supporting a unique group of investment managers worldwide. Channel Capital provides a range of services including incubation, operations, distribution, marketing, and responsible entity services to eight investment management firms with associated assets of A$22 billion as of 31 October 2022. The Channel Capital Group also comprises three subsidiary companies − Channel Investment Management Limited, Channel Capital Cayman, and more recently Eolas Capital LLC – a New York based firm that provides tailored capital and business infrastructure solutions for specialist and boutique investment managers

    Find out more at: www.channelcapital.com.au 

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 20th July 2022

    Fund Recs joins REGIS-TR’s Partnership Programme

    Dublin, 20th July 2022 - REGIS-TR has added Fund Recs to their Partnership Programme. Through this partnership, Fund Recs will have direct access to the REGIS-TR trade repository to automatically retrieve trade data on behalf of their clients. This partnership will greatly simplify and streamline the reconciliation process for Fund Recs’ clients.

    Under EMIR and SFTR, financial counterparties are required to submit their transaction data to a trade repository in a timely manner and, having effective oversight of their trade reporting is critical to ensure ongoing compliance with regulations. Fund Recs’ EMIR and SFTR modules enable its clients to ensure that trade flows are submitted and complete as defined by regulatory requirements.

    Fund Recs’ CEO, Alan Meaney, said: “Our solutions help fund managers to meet their ongoing reporting obligations. We give you more time to focus on running your business by automating the data collection and reconciliation process, while ensuring accuracy and compliance with EMIR and SFTR regulations. We are thrilled to be collaborating with REGIS-TR in this exciting partnership. This is an exciting time for our client base and partners, as we continue to expand our suite of automation offerings.”

    Nick Bruce, Head of Business Development for REGIS-TR, commented: “We are delighted to welcome Fund Recs to our growing partner programme and look forward to working together; delivering tailored, client-centric software solutions, to help clients and market participants meet their reporting obligations.”

    About REGIS-TR

    REGIS-TR is the leading European trade repository offering reporting services covering all the major European trade repository obligations. In accordance with legislation promoting market transparency, the detail of the trades reported is aggregated to present a composite view of current positions for the benefit of regulatory authorities and market participants. REGIS-TR is open to financial and non-financial companies and institutions.

    Find out more at: www.regis-tr.com

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 22nd February 2022

    AMX automates EMIR Reconciliations with Fund Recs

    Dublin, 22nd February 2022 - Fund Recs today announced that The Asset Management Exchange (“AMX”), the Ireland based 3rd Party Management Company, has chosen the Fund Recs Velocity platform to automate EMIR reconciliations.

    Fund Recs’ EMIR reconciliation module supports the oversight requirements for fund managers to ensure that all trade data reported for EMIR is complete, accurate and timely.

    Eoin Motherway, Ireland Country Head of AMX said “AMX is delighted to partner with Fund Recs in the continuing digitisation of our industry. Their agile solution matches our needs and they are a valued service partner in the AMXConnect Store, which we also invite other industry colleagues to peruse”

    Fund Recs CEO, Alan Meaney, said: “We are really excited to be working with AMX to support their EMIR oversight obligations. Oversight of the EMIR trade reporting process is a key focus for firms and we are continuing to invest heavily in our solution to ensure our client’s oversight obligations are met with ease.”

    About The Asset Management Exchange

    AMX is building a better world for the investment industry.

    Launched in 2017, AMX connects investors, asset managers and service partners so they can interact and transact – all in one place.

    AMX cuts through the complexity of investing and makes life easier and more efficient for everyone involved.

    • Our ecosystem aims to connect investors, asset managers and service partners seamlessly.
    • We standardise processes, so there’s one simple way of working that’s better for everyone.
    • Everything is centralised in one place, so it’s easy to find what you need.
    • We are building an efficient investment ecosystem using technology to transform conventional ways of working to become more nimble, responsive, and sustainable. Our ecosystem enhances relationships, creates connections, and brings efficiencies.

    The investment industry is complicated. But, together, we’re making it better.

    Find out more at: www.theamx.com 

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 14th February 2022

    Empaxis & Fund Recs announce partnership for Cash & Position Reconciliations

    Dublin, 14th February 2022 - Fund Recs today announced that Empaxis, a middle and back-office outsourcing company designed to deliver offshore labour exclusively to asset managers, hedge funds, and wealth managers, have been using the Fund Recs Velocity platform to automate cash and position reconciliations.

    Velocity is a set of software modules that helps global fund administrators, investment managers and auditors to achieve straight through reconciliations. Empaxis have implemented the Velocity platform to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

    Stephen Van de Wetering, CEO for Empaxis said: “Handing your operations to Empaxis increases efficiency, lowers operational costs, and reduces risk. By leveraging the Fund Recs velocity platform, we can continue to automate for our clients. We were impressed with Fund Recs’ innovative and scalable reconciliation platform and their approach to solving daily data problems.”

    Fund Recs CEO, Alan Meaney, said: “We are excited to be working with the Empaxis team as they continue to enhance their client delivery model, leveraging the Fund Recs industry leading solutions. Software only provides leverage to great people, and we look forward to continuing our relationship with Empaxis as they keep innovating for their clients.”

    About Empaxis

    The investment management industry faces significant change and intense competition. With this comes pressure to optimize operations—and guarantee excellence. That’s where Empaxis comes in. Founded in 2004, Empaxis was the first middle and back-office outsourcing company designed to deliver offshore labour exclusively to asset managers, hedge funds, and wealth managers.

    After 15 years, the team remains fiercely focused: we live and breathe operations, so that you can focus on portfolio and investment management. Globally, we provide asset managers, hedge funds, and wealth managers with expert reconciliation and co-sourced middle- and back-office services.

    Find out more at: www.empaxis.com 

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 8th February 2022

    Fund Recs automates EMIR Reconciliation

    Dublin, 8th February 2022 - Completing an EMIR trade reconciliation is integral to having effective oversight in place on the EMIR reporting process. Regulators are focusing heavily on data quality and firms need to ensure they have sufficient oversight in place to ensure reported trades are complete and accurate.

    Fund Recs’ EMIR Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator. Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met.

    Fund Recs’ EMIR Reconciliation solution is part of the Velocity platform. Velocity is a set of cloud-based software modules that helps Investment Managers, 3rd Party ManCos, AIFMs and Fund Administrators to achieve straight-through reconciliations and data processing in their middle and back offices.

    Shoshana Wainer, Chief Compliance Officer at Albar Capital Ltd. said “We are excited to have selected Fund Recs’ EMIR reconciliation module to support our oversight of the EMIR reporting process. We have built a strong relationship with the Fund Recs team and look forward to utilizing more of their best-in-class software.”

    Fund Recs CEO, Alan Meaney, said: “We are delighted to extend our relationship with Albar Capital with the addition of our EMIR reconciliation module to the suite of supports we provide to them.”

    About Albar Capital

    Albar Capital Ltd is an investment management firm authorised and regulated by the Financial Conduct Authority (“FCA”). www.albarcapital.com 

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

  • 2nd February 2022

    Apex Extends Partnership with Fund Recs to include Transfer Agency Reconciliations

    Dublin, 2nd February 2022 - Fund Recs today announced the extension of their relationship with global financial services provider Apex Group (“Apex”) for a further five years and added the Velocity Transfer Agency Reconciliation module to their services.

    Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry, underpinned by market leading technology platforms.

    Apex is using Fund Recs’ Velocity platform to tackle reconciliation challenges globally. Having initially deployed the software in 2016, Fund Recs has supported Apex on each step of their growth journey by automating the reconciliation process. As well as extending the relationship, Apex has also subscribed to the Fund Recs TA Reconciliation module which will provide a more automated process in place for their Transfer Agency Oversight. This will create efficiencies, by freeing up their expert teams enabling them to continue to focus on adding more value for their clients.

    Alan Meaney, CEO at Fund Recs said “It has been great to be part of Apex’s journey and support them to scale their business to over $2 trillion assets under administration. We are excited to build on that further over the next five years as we continue to support their Fund Accounting teams and have now begun to support their Transfer Agency team.”

    Jeff Pamplin, Global Head of Operations at Apex Group added “We look forward to continuing to work with Fund Recs and are very excited with the addition of the TA Module. Having worked with Fund Recs since 2016 we have been impressed with the functionality that has been added in that time and expanding the relationship is key for enabling us to continue to grow as we look to integrate our recent acquisitions.”

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.
    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021.
    Find out more at: www.fundrecs.com

    About Apex Group

    Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 50 offices worldwide and 5,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies. www.apexgroup.com 

     

     

  • 11th January 2022

    Fund Recs joins Irish Funds as a Full Member

    Irish Funds Fund Recs

    Dublin, 11th January 2022 - The Irish Funds Industry Association (Irish Funds) is the representative body for the international investment fund community in Ireland. We're delighted share that Fund Recs has joined Irish Funds as Full Members in 2022. If you're a member, you'll see our team get involved in the working groups as we collaborate on moving the industry forward.

    A special thanks to Pat, Kieran, Declan, David and the rest of the Irish Funds team for all their help and support over the years. 

    The Funds Industry continues to be a large contributor to the Irish Exchequer and I'm very excited about the opportunities in 2022 and the coming years. Ireland is well placed to continue to innovate on behalf of Investors and support the funding of all of our futures.

    Irish Funds Members Directory.

     

  • 4th November 2021

    CleverCards automates Transaction Reconciliations with Fund Recs

    Dublin, 4th November 2021 - Fund Recs today announced that CleverCards, the Irish based global payments platform that enables businesses and governments to send digital Mastercards instantly to employees, customers or suppliers has gone live with the Fund Recs Velocity platform to automate their transaction reconciliations.

    Velocity is a set of cloud-based software modules that helps Payment Providers, 3rd Party ManCos, AIFMs, Investment Managers and Fund Administrators to automate data processing and achieve straight through reconciliations in their middle and back offices.

    Fund Recs’ Velocity reconciliation module will support the oversight requirements for CleverCards, ensuring that all transaction data reported is complete, accurate and timely.

    Fund Recs CEO, Alan Meaney, said: “We are really excited to be partnering with CleverCards as they continue to expand within the global e-payments industry. Enabling automation around reconciliations and reporting will allow CleverCards to focus on advancing their current service offering. Having oversight of all daily transactions is a key focus for firms within this industry and we are continuing to invest heavily in our solution to ensure our client’s oversight obligations are met with ease.”

    About Clever Cards
    CleverCards is the leading global platform for mobile-enabled digital payments. An innovative solution to existing and emerging payments challenges, from expense management and insurance payouts to welfare payments, gig economy payments and gift, incentives, and rewards, it is used around the world by businesses and Governments to send digital Mastercards instantly to employees, customers or suppliers by SMS, WhatsApp or email, which can be spent online or in-store using Apple pay, Google Pay or Samsung Pay.

    The CleverCards platform makes the instant generation and distribution of mobile payment cards possible. A Platform-as-a-Service (PaaS) solution that your business can plug & play to generate, distribute & manage worldwide payment cards for any use case you can imagine. Send-Receive-Pay. Instantly. Find out more at: https://clevercards.com/

    About Fund Recs
    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland.

    In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021. Find out more at: www.fundrecs.com

  • 28th September 2021

    Channel Capital fully automates reconciliations with Fund Recs

    Dublin, 28th September 2021 -Fund Recs today announced that Channel Capital, a multi-boutique global funds management business headquartered in Australia, has selected the Fund Recs Velocity platform to fully automate its reconciliation processes.

    Velocity is a No Code, reconciliation platform that delivers automated straight through reconciliations to investment managers, global fund administrators and auditors. Velocity helps reduce operating costs overall by delivering efficiencies throughout middle and back office processes.

    Channel Capital will use Velocity to drive further automation in its reconciliation process across its A$18 billion of funds under administration including cash, position and month end NAV reconciliations across multiple asset classes.

    Josh Yeo, Chief Operating Officer at Channel Capital said “We are excited to have selected Fund Recs for the further automation of our reconciliation processes. As Channel Capital continues to grow, we are focused on implementing tools that drive efficiencies and greater automation so we can continue to provide best in class service to our investment manager partners. The Fund Recs platform will not only deliver these objectives but it also provides the flexibility to support the multiple types of reconciliations that we require to support our investment manager partners.”

    Fund Recs CEO, Alan Meaney, said: “The team at Channel Capital embed client service in everything they do which is something we work hard to emulate at Fund Recs. Partnering with Channel Capital builds on the market momentum we have been seeing in Australia as we meet the growing demand for automation. We look forward to supporting continued growth at Channel Capital with our award winning solutions.“

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021. www.fundrecs.com

    About Channel Capital

    Channel Capital is a multi-partner asset management business dedicated to building and supporting a unique group of investment managers worldwide. Channel Capital provides a range of services including incubation, operations, distribution, marketing and responsible entity services to eight investment management firms with associated assets of A$18 billion as of 30 June 2021. The Channel Capital Group also comprises three subsidiary companies − Channel Investment Management Limited, Channel Capital Cayman, and more recently Eolas Capital LLC – a New York based firm that provides tailored capital and business infrastructure solutions for specialist and boutique investment managers. www.channelcapital.com

  • 14th September 2021

    Fund Recs automates connectivity with DTCC’s GTR service to streamline EMIR and SFTR trade reporting reconciliations

    Dublin, 14th September 2021 - Fund Recs today announced that they have entered into an agreement with The Depository Trust & Clearing Corporation’s trade repository DTCC Data Repository (Ireland) Plc (DDRIE), part of DTCC’s Global Trade Repository (GTR) service, to partner on delivering new automated reconciliation capabilities in support of EMIR and SFTR trade reporting requirements.

    With this agreement, Fund Recs’ Velocity service, a no code, cloud-based platform that automates reconciliation for the investment management industry, will connect to DTCC’s GTR service to retrieve and analyse trade data for accuracy and completion, simplifying and streamlining the reconciliation process.

    Under EMIR and SFTR, fund managers are required to submit their transaction data to a trade repository in a timely manner. Oversight of this transaction data is critical to ensure data quality and adherence with the mandates. By leveraging Fund Recs’ Velocity service and DTCC’s GTR, fund managers can compare and match trade records submitted to the GTR service with their internal accounting book of record, ensuring that trades have been submitted and are complete as defined by ESMA trade reporting requirements. The new connectivity allows Velocity to automatically retrieve clients' trade data from GTR, facilitating timely, efficient, and straight through data quality control, eliminating manual processes.

    DTCC Data Repository (Ireland) Plc (DDRIE) is one of the European Securities and Markets Authority (ESMA) approved trade repositories under EMIR and SFTR.

    Fund Recs CEO, Alan Meaney, said: “Fund Managers are under increasing pressure to ensure EMIR and SFTR reporting is timely, accurate and complete. Our reconciliation modules provide a streamlined, fully auditable, and automated solution for managers, which helps to ensure their governance needs are met. We are delighted to be collaborating with DTCC as entering into this agreement enables us to increase the level of automation we provide to our clients.”

    DTCC Managing Director and Head of Repository & Derivatives Services, Chris Childs, said, “DTCC is committed to helping establish a robust, comprehensive reporting infrastructure for the global derivatives market. We welcome the opportunity to work with innovative third-party service providers like Fund Recs to build connectivity to our repository services and help our mutual clients meet regulatory mandates in Europe and beyond.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021. www.fundrecs.com

    About the DTCC

    With over 45 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 21 locations around the world, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm simplifies the complexities of clearing, settlement, asset servicing, data management, data reporting and information services across asset classes, bringing increased security and soundness to financial markets. In 2020, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $2.3 quadrillion. Its depository provides custody and asset servicing for securities issues from 170 countries and territories valued at U.S. $73.5 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes 15 billion messages annually.

  • 23rd June 2021

    Evenlode Investment Management automates Position Reconciliations with Fund Recs

    Dublin, 23rd June 2021 -Fund Recs today announced that Evenlode Investment Management, the UK based Investment Manager, has gone live on Fund Recs Velocity platform to automate position reconciliations.

    Velocity is a set of cloud-based software modules that helps investment managers, global fund administrators and auditors to achieve straight through reconciliations and data processing in their middle and back offices.

    Nicole Harrington, Chief Operating Officer at Evenlode said “We are excited to have selected Fund Recs for the automation of our position reconciliation process. As Evenlode continues to grow, the elimination of manual processes is a priority. We not only achieved the level automation we expected but the Fund Recs implementation was seamless, and we were fully live on the application in a matter of weeks.”

    Fund Recs CEO, Alan Meaney, said: “It is a pleasure to have the opportunity to partner with Nicole and the Evenlode team. Our commitment to deliver a truly automated reconciliation process fits with Evenlode’s focus on delivering operational efficiencies. We are excited to support Evenlode in their continued growth and success.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2021 Fund Recs won the “Innovation in Investment Management” award at the Deloitte Financial Services Innovation Awards 2021. www.fundrecs.com

    About Evenlode

    Evenlode Investment Management is a wealth management firm based in Chipping Norton, United Kingdom. Established in 2016, the firm takes a long-term, business-perspective approach to investments. Find out more at: www.evenlodeinvestment.com

  • 3rd June 2021

    Fund Recs wins the 'Innovation in Investment Management Award' at the Deloitte Financial Services Innovation Awards 2021

    Dublin, 3rd June 2021 - Excited to share that Fund Recs won the 'Innovation in Investment Management Award' at the Deloitte Financial Services Innovation Awards 2021.

    Thanks to all our clients for trusting us to innovate on their behalf and for all the hard work of our team to earn that trust. 

    FSIA_Winners_FundRecs

     

  • 13th April 2021

    CSC Goes Live on Fund Recs Velocity Platform for Cash, Position, and Trade Reconciliations

    Dublin, 13th April 2021 - Fund Recs today announced that CSC have gone live on the Velocity Platform. In April 2020, CSC announced its Fund Services expansion into Ireland as part of its long-term strategy to provide global clients access to their suite of fund administration, capital markets, and depositary services. Fund Recs will be supporting CSC through this expansion to help automate multiple processes.

    Velocity is a set of cloud-based software modules that helps investment managers, global fund administrators, and auditors to achieve straight-through reconciliations and data processing in their middle and back offices. CSC has implemented the Velocity platform to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

    “Fund Recs, much like CSC, offers best-in-class systems, solutions, and service”: said Liam McHugh, CSC’s managing director for European fund administration. “This partnership is a significant value-add to our business which will help us continue to focus on providing a consistently high level of service to our clients as we grow our fund administration and depositary offering in Ireland and Europe.”

    “Through our engagement with CSC we’ve delivered a strong relationship and are excited to be working with a group that has such a focus on providing high quality client service,” said Fund Recs Chief Executive Officer Alan Meaney. “By automating multiple processes, CSC will now be able to deliver an even better client service. Software only provides leverage to great people and we look forward to supporting CSC as they continue to innovate for the benefit of their global client base.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation and data management software for the global Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-"a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. www.fundrecs.com

    About CSC

    CSC is a leading provider of fund services globally. We support alternative asset managers across a range of fund strategies, capital markets participants in both public and private markets, and corporations and institutions requiring fiduciary and governance support. We are the unwavering partner for 90% of the Fortune 500®, nearly 10,000 law firms, and more than 3,000 financial institutions. CSC’s Global Financial Markets professionals are located in key financial centers across the United States, Europe, and Asia-Pacific. We are an international company capable of transacting wherever our clients are, with highly experienced teams in every jurisdiction we serve. Find out more at: www.cscgfm.com

  • 30th March 2021

    European Depository Bank partners with Fund Recs for Cash Flow Monitoring

    Dublin, 30th March 2021 - Apex Group Ltd. (“Apex” or “The Group”), a global financial services provider, today announces that the European Depositary Bank (“EDB”), an Apex subsidiary, has partnered with Fund Recs to deploy their Cash Flow Monitoring Module.

    Through EDB, Apex offers independent banking, depositary and custody services to institutional investors and asset managers for UCITS and alternative investment structures. EDB provides a service suite that covers the full spectrum of asset classes including private equity, real estate funds, hedge funds, listed funds, infrastructure funds and renewable energy funds.

    The rollout of Fund Recs Cash Flow Monitoring Module within EDB will create further efficiencies by automating the manual oversight of cash transactions in broker accounts, which is a key requirement for Depositories whilst freeing up highly qualified resources from data processing tasks. EDB’s clients will benefit from straight through processing and customisable reporting.

    Tom Walsh, Head of Programme Management at EDB comments: “The deployment of additional Fund Recs software within the Apex Group is indicative of our commitment, as a global brand, to delivering exceptional service by utilising the best-in-class technologies and continually improving efficiencies. We look forward to delivering enhanced reporting services to our global client base as we continue to grow and expand our service offering”.

    Fund Recs CEO, Alan Meaney, adds: “We are delighted to be automating more and more workflows within the Apex Group and look forward to continuing to work in partnership as we expand our offering. Having gone live with EDB on Cash Flow Monitoring, we now help yet another team within the Group on a daily basis so they can focus on what they do best: delivering a great service to their current and prospective clients. This is another strong vote of confidence in our software as we remain committed to delivering efficiencies and improved client experience through automation in the financial services industry.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation and data management software for the global Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-"a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. www.fundrecs.com

    About European Depositary Bank

    European Depositary Bank (“EDB”) was founded in 1973 in Luxembourg. It was originally established as a subsidiary of Hamburg based private bank M.M.Warburg & CO (AG & CO) KGaA and was acquired by Apex Group Ltd (“Apex”) in 2019. EDB is supported by Apex’s strong global network of over 40 offices worldwide in addition to its extensive European presence with circa 2,000 employees across the region, and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds. Find out more at: www.europeandepositarybank.com

  • 28th January 2021

    Fund Recs Velocity now being used for EMIR Reconciliations

    Dublin, 28th January 2021 - Fund Recs today announced that their Velocity platform is being used to automate the reconciliation between Investment Managers accounting records and their Trade Repositories to support their EMIR regulatory requirements.

    Velocity is a set of software modules that helps investment managers, global fund administrators and auditors to achieve straight through reconciliations.

    Completing timely and accurate trade and position reconciliations is imperative to firms so that all Central Bank & ESMA requirements are met for EMIR purposes. Management firms with sub advisors or delegated models have the ultimate responsibility that all trades are being reported to the repository and that the information being reported is accurate. Although this can be outsourced the responsibility cannot be outsourced. The Central Bank have confirmed that delegated reporting is one of 4 areas they will be focusing on. They have stated that if reporting obligations are delegated firms should still reconcile all data to ensure all relevant trades have been reported, remedial action is taken to resolve any issues and that they regularly review trade repository rejection reports.

    Fund Recs CEO, Alan Meaney, said: “Effectively overseeing EMIR trade reporting continues to be a key focus for many firms. Regulatory data is growing exponentially and we’re investing heavily to ensure operational teams have the right tools to rise to the challenge.”

    Mercer are one of the firms that have gone live with the Velocity platform in its Dublin Office which has increased efficiency, reduced risk, and helped meet the regulatory requirements.

    Speaking about the new partnership, Des Pierce a Partner in Mercer’s Investment Solutions business said: “When seeking to enhance our EMIR oversight process, we were looking for a solution that could absorb and reconcile key EMIR data from various sources and for a system that would have the versatility and potential to cope with reconciliations for additional regulations & functions. Fund Recs met these requirements and we were very impressed with their approach to solving the problem which allows us to maintain the highest oversight standards.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. Find out more at: www.fundrecs.com

  • 18th August 2020

    SuMi TRUST selects Fund Recs Transfer Agency Bank Rec Solution for IMR Reconciliations & Reporting

    Dublin, 18th August 2020 - Fund Recs today announced that SuMi TRUST, one of the largest financial services groups in Japan, has selected its Transfer Agency bank reconciliation module for its fund services business in Ireland.

    Fund Recs Transfer Agency Bank Rec module, part of the Velocity platform, ensures all transactions flowing through investor operating accounts relate to approved fund dealing. This ensures a robust process is in place and helps protect investor funds. This also provides oversight for IMR on a transaction by transaction basis.

    Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to assist with onboarding and help meet daily deadlines.

    Alan Meaney, CEO of Fund Recs, said “We’re really excited to be working with another large financial services client like SuMi TRUST to help ensure regulatory requirements are met with ease. Transfer Agency Bank Recs is an area of increased focus in the Industry and we’re proud of the safeguards our software adds to the process while also increasing overall efficiency.”

    Eric McCarthy, Head of Operational Planning at SuMi TRUST said “This implementation with Fund Recs is part of our ongoing investment in technology solutions to adapt to the increasingly complex regulatory environment. The solution was developed in conjunction with Fund Recs and the implementation process was smooth and efficient and has led to an improved reconciliation process, both in terms of effectiveness and efficiency. We’re very excited to be partnering with Fund Recs and look forward to exploring additional opportunities their suite of products has to offer.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About SuMi TRUST

    Sumitomo Mitsui Trust Bank is the largest company in most of the major areas of the trust banking industry in Japan. We will build on our global business model to create unique value-added services associated with the brand of “SuMi TRUST”, with a firm presence not only in the Japanese trust banking industry, but also in the global financial industry.

  • 30th July 2020

    Albar Capital automate Position Reconciliations with Fund Recs

    Dublin, 30th July 2020 - Fund Recs today announced that Albar Capital, the London based Investment Manager, has gone live on Fund Recs Velocity platform to automate position reconciliations.

    Velocity is a set of cloud-based software modules that helps investment managers, global fund administrators and auditors to achieve straight through reconciliations and data processing in their middle and back offices.

    Rajesh Krishnan, Head of Operations at Albar Capital said “We are delighted to partner with Fund Recs to implement Velocity to automate our position reconciliations. Velocity has made our team more efficient by eliminating manual processes, reducing risk of errors and ensuring automation throughout our reconciliation process.”

    Fund Recs CEO, Alan Meaney, said: “Albar Capital are another great example of a firm with a focus on leveraging innovative solutions like Fund Recs to automate their middle and back office. We’re delighted to be working with Rajesh and the team at Albar Capital to support their continuing success.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About the Albar Capital

    Albar Capital are a London based absolute return investment manager, authorized and regulated by the Financial Conduct Authority (“FCA”). For more information, please visit: : www.albarcapital.com

  • 15th July 2020

    Maples Group goes live on Fund Recs Velocity platform for Reconciliations

    Dublin, 15th July 2020 - Fund Recs today announced that the Maples Group, a leading independent service provider offering clients a comprehensive range of fund services, as well as regulatory and compliance, fiduciary, entity formation and management and legal services, has gone live on Fund Recs Velocity platform to automate cash and position reconciliations.

    Velocity is a set of software modules that helps global fund administrators, investment managers and auditors to achieve straight through reconciliations. The Maples Group has implemented the Velocity platform in its global offices to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

    Tyler Kim, Global Head of Fund Services for the Maples Group said: “The growth of our fund services business has been largely predicated on our ability to implement best-of-breed vendor systems to supplement our proprietary technology solutions. We were impressed with Fund Recs’ innovative and scalable reconciliation platform and their approach to integrating with existing platforms.”

    Fund Recs CEO, Alan Meaney, said: “We are excited to be working with the Maples Group team as they continue to enhance their client delivery model leveraging Fund Recs industry leading solutions. The Maples Group joins a growing list of fund administrators that have selected Fund Recs based on our innovative technology and domain expertise.”

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About the Maples Group

    The Maples Group is a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services. The Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to their specific needs. Its global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East to ensure that clients gain immediate access to expert advice and bespoke support, within convenient time zones. For more information, please visit: : www.maples.com

  • 7th July 2020

    Fund Recs appoints new Chief Revenue Officer to expand global growth

    Mark Lacana

    Dublin, 7th July 2020 - Fund Recs, a cloud-based reconciliation platform for the global funds industry which helps fund administrators, depositories, fund managers and audit firms reconcile complex data, has announced the appointment of Mark Lacana as its new Chief Revenue Officer. Lacana’s extensive experience in growing companies in the Investment Management Software industry will support Fund Recs as a leading innovator in reconciliation and data transformation solutions.

    Lacana excels at guiding enterprise software companies through periods of rapid growth and brings over 15 years of experience in driving global sales at software companies such as AltaReturn and TheNextRound.

    Based in Boston, he will report to Alan Meaney, Fund Recs CEO.

    “We have been searching for a talented and ambitious Sales leader to join the team at Fund Recs. Mark has an impressive track record of leading organizations through global growth in the Investment Management Software Industry and we are delighted to welcome him to the team. Many of the clients Mark has worked with previously speak highly of his client centric approach to sales and building a partnership with clients and this is what makes Mark such a great fit for Fund Recs.” said Meaney.

    In May, Fund Recs was awarded IS027001 certification as it continues to invest in developing a secure Enterprise platform on the AWS cloud.

    “Fund Recs is redefining reconciliations and data transformation for the investment funds industry, Its Fusion product is going to completely revolutionize how operations teams manage their data flows. I’m excited to be joining a business that is leading the way in innovation while successfully delivering on its ambitious growth plans.” added Lacana.

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the global Funds Industry, replacing outdated enterprise software with Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

  • 7th May 2020

    Fund Recs Announces successful completion of ISO 27001 Certification

    ISO 27001 Certification

    Dublin, 7th May 2020 - Fund Recs today announced that on May 1st 2020 it was independently awarded ISO 27001:2013 certification for Information Security Management by Certification Europe.

    What is ISO 27001:2013 and why is it so important for organisations?

    ISO 27001:2013 is the only standard that sets out the specifications for an information security management system (ISMS).

    Organisations increasingly have to show they can be trusted for information security and privacy management and having ISO 27001:2013 demonstrates that an organisation has identified risks and put in place preventative measures to protect the organisation from information security breaches.

    What does ISO 27001:2013 certification mean for Fund Recs?:

    - Helps us protect information from getting into unauthorised hands

    - Ensures information is accurate and can only be modified by authorised users

    - Provides a framework for assessing the risks and mitigating the impact of a breach

    - Demonstrates independent assessment to an international standard based on industry best practices

    What are the benefits for our current and prospective clients?:

    - Increased reliability and security of systems and information

    - Increased business resilience

    - Alignment with customer requirements

    - Improved management processes and integration with corporate risk strategies

    If you'd like to learn more about how Fund Recs can help automate your data transformation and reconciliation processes, please contact Alan Meaney on alan@fundrecs.com.

  • 10th March 2020

    Fund Recs Announces New Partnership to Automate Reconciliations and file processing at Curo Fund Services

    Dublin, 10th March 2020 - Fund Recs today announced that it will provide Curo Fund Services, South Africa’s largest third-party administrator, with trade capture automation services through its Velocity fund administration software as well as providing Curo with the capability to manage multiple data sources through its new ETL tool Fusion.

    The Fusion system is delivered as a fully hosted Software as a Service solution and puts an easy to use ETL solution into the hands of the administrator.

    Barri Maggott, CEO of Curo, said: “Implementing Fusion allows our business to optimise its operating model by placing the management of data in the hands of the administrator and reducing the demands on our technology department ”

    Fund Recs CEO, Alan Meaney, said: “We are delighted to be working with Curo Fund Services as they continue to innovate the fund servicing process through the combination of powerful software and domain expertise.”

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com. Phone: +1 646 988 4961

    Note to editors

    About Curo Fund Services

    Curo Fund Services is a specialist investment administration services partner providing investment management solutions to leading investment providers for more than a decade.

    Curo offers flexible and dynamic fund services solutions in an ever changing investment market through expertise that supports clients’ product growth strategies, while managing risk through standardisation of common industry processes.

    Curo currently employs over 300 experienced staff and administers more than R2 trillion in assets under administration.

    For more information, please visit: www.CuroFund.com

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS).

    The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds.

    Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

  • 3rd March 2020

    Grant Thornton Ireland selects Fund Recs Velocity and Fusion Software Solutions

    Dublin, 3rd March 2020 - Fund Recs today announced that Grant Thornton Ireland has selected Fund Recs to provide reconciliation and data transformation software solutions for its Financial Services Audit business. Grant Thornton is Ireland's fastest growing professional services firm and this unit has seen growth of 50% over the past two years.

    Grant Thornton Ireland will leverage Fund Recs award winning Velocity and Fusion technology to increase efficiency, accuracy and speed of its investment funds audit process

    “We are pleased to support Grant Thornton Ireland’s growth strategy across their Financial Services Audit business” said Alan Meaney, CEO, Fund Recs. “Grant Thornton Ireland’s confidence recognises Fund Recs investment in reconciliation and data transformation innovation. Automating recs and data transformation with a no-code solution in the funds industry is a core competency for us and we are pleased to bring our expertise to Grant Thornton Ireland for the benefit of their audit clients”.

    Colin Feely, Partner and Head of Financial Services Audit from Grant Thornton said “We are very pleased to be partnering with Fund Recs. We fully embrace technology and innovation at Grant Thornton Ireland and we constantly look for fresh ways to move both our team and our clients forward by applying our Status Go approach. With this new partnership we look forward to evolving our service offering that ultimately adds value to clients. The team at Fund Recs are well regarded in the funds industry as innovation enablers and we believe that partnering with them will greatly advance our current service offering.”

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com. Phone: +1 646 988 4961

    Note to editors

    About Grant Thornton Ireland

    Grant Thornton is Ireland’s fastest growing professional services firm. With over 1,450 people in 7 offices across Ireland and 56,000 located in over 143 countries around the world, we bring you the local knowledge, national expertise and global presence to help you and your business succeed – wherever you’re located. We deliver solutions to all business challenges. Clients choose us because the breadth of financial and business services they need is available, delivered innovatively and always to the highest standards. At Grant Thornton we are committed to long term relationships.

    Grant Thornton operate from offices in Dublin, Belfast, Cork, Galway, Kildare, Limerick and Longford.

    For more information, please visit: www.grantthornton.ie

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS).

    The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds.

    Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    Colin Feely, Partner and Head of Financial Services Audit Grant Thornton and Des O'Donohoe, Managing Director Fund Recs

    Colin Feely, Partner and Head of Financial Services Audit Grant Thornton and Des O'Donohoe, Managing Director Fund Recs
  • 23rd January 2020

    Fund Recs secures SANNE as new client with provision of tailored reconciliation automation services

    Dublin, 23rd January 2020 - Fund Recs is pleased to announce that it will provide SANNE, a leading global provider of alternative asset and corporate services, with tailored reconciliation automation services through its Velocity fund administration software.

    Fund Recs, an established fund industry software provider, will work with SANNE to automate the data processing and reconciliation process in its fund administration business. Delivered as a Software-as-a-Service, Velocity, will help SANNE achieve its goal of Straight-Through-Reconciliations.

    Fund Recs Chief Executive Officer, Alan Meaney, said: “Through our engagement with SANNE we’ve delivered a strong relationship and are excited to be working with a group that has such a focus on providing high quality client service. Software only provides leverage to great people and we look forward to supporting SANNE as they continue to innovate for the benefit of their global client base.”

    Philip Dempsey, Country Head – Ireland at SANNE, said: “We are delighted to be partnering with Fund Recs. We fully embrace technology and innovation at SANNE and we constantly look for ways to evolve our service offering that ultimately adds value to clients. The team at Fund Recs are well regarded in the funds industry as innovation enablers and we believe that partnering with the best providers in the industry will greatly advance our current service offering.”

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com

    Note to editors

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS).

    The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds.

    Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About SANNE

    SANNE provides administration, reporting and fiduciary services to leading alternative asset managers, financial institutions, governments and global corporates. The business has over 1,750 clients, administer more than 7,800 structures and funds that have in excess of £250 billion of assets.

    SANNE employs more than 1,600 people and has a presence in 20 established international financial centres spread across the Americas, Europe, Africa and Asia-Pacific. Our global presence and the deep experience of our senior team enables us to work in partnership with our clients across key assets and jurisdictions, through one co-ordinated platform. Every client receives a tailored solution, specific to their needs.

    For more information, please visit: www.sannegroup.com

  • 4th April 2019

    See below press release from Deloitte Ireland LLP

    Deloitte partners with Fund Recs to increase efficiency of investment management audits

    Dublin, 4th April 2019 - Deloitte Ireland LLP is pleased to announce that it has partnered with software provider Fund Recs. Deloitte will use Fund Recs software to automate the custody reconciliation element of its investment fund audit process - as part of that process Deloitte will utilise Fund Recs data transformation service to convert pdf documents to an editable format.

    Brian Forrester, Investment Management Leader at Deloitte Ireland, commented: “At Deloitte, we are continually looking at ways to enhance the quality of our audits and the impact that we deliver to our clients. This partnership with Fund Recs is an important part of the technology-driven approach we are taking for investment management audits.”

    Matthew Foley, Partner, Financial Services at Deloitte Ireland commented: “The solutions provided by Fund Recs will work alongside our existing proprietary technologies and tools to make the process of auditing an investment fund more efficient and quicker, and will provide better quality data. This ultimately enables us to drive more meaningful insights for our clients.”

    Fund Recs CEO, Alan Meaney, added: “We are excited to be working closely with Deloitte to help streamline the investment fund audit process they carry out on behalf of their clients. This partnership is a great example of the benefits of combining a highly skilled workforce with leading edge technology to add value to client data.”

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com

    Note to editors

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: : www.fundrecs.com

    About Deloitte

    At Deloitte, we make an impact that matters for our clients, our people, our profession, and in the wider society by delivering the solutions and insights they need to address their most complex business challenges.

    As the largest global professional services and consulting network, with approximately 286,000 professionals in more than 150 countries, we bring world-class capabilities and high-quality services to our clients.

    In Ireland, Deloitte has nearly 3,000 people providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our people have the leadership capabilities, experience and insight to collaborate with clients so they can move forward with confidence.

    In this press release references to Deloitte are references to Deloitte Ireland LLP. The information contained in this press release is correct at the time of going to press. Deloitte Ireland LLP, is the Ireland affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NWE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

    For more information, please visit: www.deloitte.com/about

  • 17th September 2018

    DMS Governance Goes Live with Fund Recs

    Dublin, 17th September 2018 - Fund Recs today announced that DMS Governance have gone live with its cash and position reconciliation modules. Managers and investors seeking high-quality fund governance overwhelmingly turn to DMS when they want to achieve industry-wide sound practices.

    Fund Recs Cash & Position Rec modules, part of the Velocity platform, ensures all open positions & cash balances held are auto reconciled back to the custodian/broker. Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to help meet daily deadlines in the fast-moving investment management world.

    Alan Meaney, CEO of Fund Recs, said: "We are delighted to be working with DMS, a company who shares our client centric approach. Using the velocity platform, the internal rec process at DMS has been automated which allows the team concentrate more on client service and exception-based analytics. We look forward to developing a strong relationship with the team in the coming years.”

    Conor Kilroy, Head of Investment Servicing at DMS said, "Over the last year we have seen a significant growth in demand for our Investment and Cash Management products. This, together with the growth of our Managed Account business, resulted in us putting in place a solution that would provide scalability and reduce time spent on manual processes. We are pleased to advise that we have now fully automated our cash and position reconciliations through partnering with Fund Rec’s market leading technology, allowing us to place more focus on other key areas and service our clients more effectively. The Fund Recs team have been very efficient and helpful during both the pre and post implementation stages."

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com

    Note to editors

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Startup of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About DMS Governance

    DMS Governance is the worldwide leader in fund governance + risk + compliance representing leading investment funds and managers with assets under management exceeding $350Bn. DMS is a global institutional firm that excels in delivering high-quality services across a diverse range of investment fund structures and strategies. We are proud to be the leading independent provider of AIFM, UCITS Management Company and MiFID services to many of the largest institutional investors and asset managers globally.

    For more information, please visit: www.dmsgovernance.com

  • 11th September 2018

    DDH Graham Automate Cash & Position Reconciliations with Fund Recs

    Dublin, 11th September 2018 - Fund Recs today announced that DDH Graham Limited have been live with its cash and position reconciliation modules since early July 2018. DDH offers tailored and flexible funds management and administration solutions to the financial services sector and are the first Australian based client of Fund Recs.

    Fund Recs Cash & Position Rec modules, part of the Velocity platform, ensures all open positions & cash balances held are auto reconciled back to the custodian/broker. Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to help meet daily deadlines in the fast-moving investment management world.

    Alan Meaney, CEO of Fund Recs, said: "We are delighted to announce the Fund Recs platform has been rolled out at DDH Graham. Combining our technology with the expertise of the DDH team creates enormous value for both current and prospective clients of DDH Graham. We look forward to working with our first Australian client and ensuring their rec process is as seamless as possible.”

    Gavin Blake, Director Fund Services at DDH Graham, said "The Fund Recs platform takes away the mundane, manual process of reconciling our own data to broker and custodian data. We just generate the files and then Fund Recs does its work. We can view each day’s reconciliation at Fund level, Asset/Category level down to Security level. Breaks in reconciliation are very visible so it allows our staff to take action quickly to investigate variances. The implementation process was a refreshingly good experience and we look forward to further expanding our use of the platform."

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com

    Note to editors

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Startup of the Year” at the ICT Spring Conference in Luxembourg. Find out more at: www.fundrecs.com

    About DDH Graham

    DDH Graham Limited (DDH) is Brisbane based funds management and administration organisation founded in 1981, offering tailored and flexible funds management and administration solutions to the financial services sector. DDH is proud of its strong business history and reputation gained over 30 years of serving their valued clients, along with its strong relationships with some of Australia’s largest financial institutions including Bank of Queensland, Westpac and QIC. DDH currently administers over A$11billion for clients across money market, managed fund, superannuation and mandate products. DDH is an unlisted public company owned and is the holder of an Australian Financial Services Licence (226319).

    For more information, please visit: www.ddhgraham.com.au

  • 9th July 2018

    Link Asset Services goes live on Fund Recs Transfer Agency Bank Rec Solution

    Dublin, 9th July 2018 - Fund Recs today announced that Link Asset Services, part of Link Group (ASK:LNK), the market leading provider of technology-enabled administration solutions, has gone live with the Transfer Agency bank reconciliation module for its fund solutions business in Ireland.

    Fund Recs Transfer Agency Bank Rec module, part of the Velocity platform, ensures all transactions flowing through TA collection accounts are accurately linked to approved fund dealing. This ensures a robust process is in place and allows full visibility of the reconciliation process.

    To achieve STP, Fund Recs has established interfaces to ingest bank data from banking partners and transaction data from Link’s transfer agency system, ManTra from HWM. Link also utilise Fund Recs’ reporting tools to meet regulatory reporting requirements and facilitate transaction settlement within ManTra.

    Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to assist with onboarding and help meet daily deadlines.

    Alan Meaney, CEO of Fund Recs, said: "We’ve been working with Link Asset Services for a number of years now and are constantly impressed by their drive to deliver enhanced client services through innovation. Transfer Agency Bank Recs is an area of increased focus in the Industry and we’re proud of the safe guards our software adds to the process while also increasing overall efficiency.”

    Derek McGrath, Shareholder Services Senior Manager at Link Asset Services said: "The implementation of the Fund Recs Transfer Agency Bank Rec module delivers efficiencies throughout our Settlements function. As well as enhancing our reconciliations, the module enables the streamlining of additional settlement processes through integration with our transfer agency system, ManTra from HWM. The ability to generate detailed reporting, allowing us to meet regulatory requirements, in a more streamlined fashion, is also hugely beneficial and will help us deliver a better service to our clients."

    -ends-

    Media enquiries

    Should you require further information, please contact Alan Meaney on alan@fundrecs.com

    Note to editors

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Startup of the Year” at the ICT Spring Conference in Luxembourg.

    About Link Asset Services

    Link Asset Services works in partnership internationally with almost 7,000 clients including asset managers and investors, business managers, asset owners, trustees, issuers and borrowers. We provide the infrastructure through which assets are secured or deployed in both regulated and unregulated markets. The 3,000+ staff of Link Asset Services deliver more than 70 closely aligned services and help capital flow through the financial markets by processing £45bn of payments annually; as well as protecting and safeguarding more than £600bn held in funds, entities and other instruments.

    Link Asset Services administers and safeguards assets across ten highly-regulated European jurisdictions. We work with a broad range of market segments, industries and asset classes, including equities, bonds and debt, and real assets. We work closely with regulators, industry bodies and market intermediaries. Our clients often procure multiple services from us and our approach and execution success has enabled us to build market leading positions across all of our business lines:

    • Link Market Services (share registration, investor relations, share investment services and treasury)
    • Link Fund Solutions (UCITS ManCo, AIFM, fund administration, transfer agency, ISA plan management)
    • Corporate Services (finance and accounting, company secretarial, entity management, outsourcing services)
    • Private clients (trust and company services, including inter-generational transfers)
    • Banking and Credit Management, through the Asset Services brand provides loan origination and servicing, debt work-out, compliance and regulatory oversight.

     

    About Link Group (ASX: LNK)

    Link Administration Holdings (Link Group) administers financial ownership data and drives user engagement through technology. Underpinned by its investment in technology, people and processes, it delivers comprehensive data and information solutions for companies, large asset owners and trustees across the globe.

    For more information, please visit: www.linkgroup.com

  • 11th April 2018

    Numen Capital automate Position Reconciliations with Fund Recs

    Dublin, 11th April 2018 - Fund Recs today announced that Numen Capital have been live with its position reconciliation module since 2016. Numen, an FCA regulated entity, were the first London based investment manager to sign up to Fund Recs.

    Fund Recs Position Rec module, part of the Velocity platform, ensures all open positions held by the manager are auto reconciled back to the custodian/broker as well as the administrator. Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to help meet daily deadlines in the fast-moving investment management world.

    "As the first Investment Manager to use Fund Recs, Numen Capital, have been a fantastic partner and have helped us develop Straight through Reconciliations. Combining our technology with the expertise of the Numen personnel creates value for both Numen’s current and prospective clients.” Said Alan Meaney, CEO of Fund Recs.

    Rajesh Krishnan, Head of Operations at Numen Capital said "We have been clients of Fund Recs since October 2016 and their technology has enabled us to automate our reconciliations. Using Fund Recs has eliminated manual data processing, reduced risk and ensures our oversight process is of the highest standard. We look forward to continuing our relationship with the team at Fund Recs."

    -ends-

     

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Startup of the Year” at the ICT Spring Conference in Luxembourg.

    About Numen Capital

    Numen Capital are a London based absolute return investment manager driven by deep fundamental research and cutting-edge technology, authorized and regulated by the Financial Conduct Authority (“FCA”). Founded in 2008 and managed by Filippo Lanza, Numen’s investment funds have exhibited a strong track record in the application of intensive fundamental analysis to securities selection across the capital structure in an events-rich environment. Over the years, Numen have developed an in-house, proprietary research platform that harnesses the power of machine learning and natural language processing algorithms, allowing them to efficiently manage an ever-increasing amount of data and quickly make sense of it via a uniquely collaborative process between analysts and fund managers. For more information, please visit www.numencapital.com

    Media Contact

    Alan Meaney, CEO | alan@fundrecs.com Phone: +353 87 767 8844

  • 20th February 2018

    Inaugural Adminvoate Conference raises €16,184.68 for Charity

    Dublin, 20th February 2018 - Fund Recs in collaboration with Pete Townsend of Norio Ventures are delighted to share that our inaugural Adminovate Conference raised €16,184.68 for two local charities. The conference focused on innovation in the Fund Administration space with over 270 delegates in attendance.

    Adminovate TAP Adminovate BP
  • 19th May 2017

    Meet the Fund Recs team at upcoming Industry events

    Upcoming Events

    Fund Recs are exhibiting, attending and speaking at a number of upcoming Funds Industry events. Feel free to get in touch about arranging a meeting or a demo.

    ALFI London Cocktail & Conference, London, Mon May 22nd to Tues May 23rd 2017 - Fund Recs will be exhibiting during the cocktail event and during the full day conference. Come say hello to Alan and Ciaran at our stand. Event details: http://www.alfi.lu/london17#event-event

    Irish Funds Annual Global Funds Conference, Dublin, Thur May 25th to Fri May 26th 2017 - Fund Recs will be attending the two days of this years confernce. http://www.irishfunds.ie/events/annual-global-funds-conference-2017

    FundForum International, Berlin, Mon June 12th to Wed June 14th 2017 - Fund Recs CEO, Alan Meaney, is speaking on a panel on Day 1 of FundForum. Event details: https://finance.knect365.com/fundforum-international/

    To arrange a meeting contact:

    Alan Meaney, CEO | alan@fundrecs.com

  • 24th November 2016

    Apex Partners with Fund Recs for Reconciliations

    Apex Partners with Fund Recs for Reconciliations

    Full press release below:

    Dublin, 24th November 2016 - Apex Fund Services today announces the deployment of the Fund Recs Velocity software globally across the group.

    The rollout of Fund Recs Velocity platform throughout Apex creates further efficiencies by automating the administrator’s cash and portfolio reconciliation procedure whilst freeing up highly qualified resource from data processing tasks. Apex’s clients will benefit from straight through processing and customisable reporting.

    "We are delighted to announce Fund Recs Velocity platform will be rolled out at Apex Fund Services. Combining our technology with the expertise of the Apex personnel creates enormous value for both Apex’s current and prospective clients. We look forward to working in partnership with Apex as we develop the Industries first Straight Through Reconciliation platform.” Said Alan Meaney, CEO of Fund Recs.

    Anthony O’Driscoll, Chief Operating Officer added "The deployment of the Fund Recs software across the Apex group is indicative of our commitment, as a global brand, to delivering exceptional service by utilising the best in class technologies and continually improving efficiencies. We look forward to delivering enhanced reporting services to our global client base as we continue to grow and expand our service offering."

    -ends-

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in Dublin and Waterford, Ireland. In May 2016 Fund Recs was named “European Startup of the Year” at the ICT Spring Conference in Luxembourg.

    About Apex Fund Services

    Apex Fund Services, established in Bermuda in 2003, is one of the world’s largest specialist fund administration and middle office solutions providers. Apex has continually improved and evolved its product suite by surrounding these core administrative services with additional products spanning the full value chain; from information delivery and regulatory products to capital introduction services. The globally distributed service model is delivered by over 600 staff across 23 full service centres and an additional 10 sales offices. Apex now administers the investments of some of the largest funds and institutional investors in the world.

    Media Contacts

    Fund Recs Contact: Alan Meaney, CEO | alan@fundrecs.com

    Apex Contact: Rosie Guest, Global Marketing Director | rosie@apexfunds.co.uk

  • 31st October 2016

    Funds startup firm Fund Recs goes for growth

    Fund Recs featured in the Irish Examiner. Read the full article here

    Gearing up for expansion in 2017, Waterford startup Fund Recs now has its sights on fund administration markets in Luxembourg, London and New York.

    European Award

    Winner of a European ICT Startup award in May, the automated reconciliation software company has this year grown staff from four to nine and taken on a third significant client.

    Waterford Awards
  • 11th May 2016

    Fund Recs wins European Startup of the Year

    Fund Recs has been named as European Startup of the Year at the ICT Spring Conference in Luxembourg.

    ICT Spring is a technology event that brings together over 6,000 professionals, investors and startups from over 72 countries. Fund Recs collected the award at last nights Gala Dinner attended by over 600 special guests.

    Alan Meaney - CEO, Fund Recs Our Research team based in Arclabs Research and Innovation centre in Waterford are developing real solutions to real client problems and this award is a testament to the progress we've made over the last 18 months.

    Alan Meaney - CEO, Fund Recs

    Pictured below are Ciaran, Alan and Des collecting the award last night:

    European Startup of the Year European Startup of the Year
  • 18th February 2016

    Fund Recs shortlisted for awards

    We're delighted to share that Fund Recs has been nominated for awards both at home in Ireland and also on a European stage.

    European Fintech 100

    These awards are split 25/75 between a public vote and a judging panel. We'd really appreciate 2 mins of your time to vote for us. Click below to cast your vote:

    Waterford Business Awards

    Back at home we've been shortlisted in the Innovation and Technology category for the Waterford Business Awards. We'll be sure to post photos of the night and are looking forward to meeting the other shortlisted businesses.

    Waterford Awards
  • 4th February 2016

    Capita Asset Services moves to automated cash and portfolio reconciliation

    - Fund Recs extends contract with Capita Asset Services

    Alan Meaney - Co-founder, Fund Recs We worked closely with Capita to develop a solution that met its requirements and look forward to this second phase of work with the company, which follows the successful deployment of the Fund Recs trade capture module last year.

    Alan Meaney - Co-founder, Fund Recs

    Full press release below:

    Dublin, 4th February 2016 - Capita Asset Services announces it is working with Irish fintech start-up, Fund Recs, to automate its cash and portfolio reconciliation process.

    The cloud-based software will automatically reconcile broker and custodian data to Capita's fund accounting system, InvestOne Enterprise. Clients will benefit from enhanced and user friendly reporting.

    Paul Burke, senior manager fund accounting, Capita Asset Services, said: "Enhanced reporting will provide our clients with information concerning the cash and portfolio of their funds at a glance and the solution will further aid our Net Asset Value (NAV) process and deliverables. This investment not only prepares us for the reporting requirements of the incoming UCITS V regulations, but also provides a solid foundation for future technical innovation."

    Alan Meaney, director of Fund Recs, said: "We worked closely with Capita to develop a solution that met its requirements and look forward to this second phase of work with the company, which follows the successful deployment of the Fund Recs trade capture module last year."

    -ends-

    For further information please contact:
    Alan Meaney on alan@fundrecs.com

    About Fund Recs
    Find out more at www.fundrecs.com

    About Capita Asset Services

    Capita Asset Services' fund solutions business is part of Capita plc, a FTSE 100 company with market capitalisation of around US$7.5bn. The fund solutions business employs 500 employees servicing over 300 funds in the UK, Ireland, Luxembourg and the Channel Islands with over £70bn of assets under administration at 31 March 2015.

    Capita Financial Administrators (Ireland) Limited, regulated by the Central Bank of Ireland, is one of the fastest growing Irish fund administration companies specialising in the administration of both Irish domiciled funds (UCITS and non-UCITS) as well as funds domiciled in the Cayman Islands and the British Virgin Islands.

    Capita plc is a leading UK provider of technology-enabled customer and business process services and integrated professional support services. With 74,000 people at over 400 sites, including 80 business centres across the UK, Europe, India and South Africa, Capita uses its expertise, infrastructure and scale benefits to transform its clients' services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE 100 with 2014 revenue of £4.4 billion. Further information on Capita can be found at: www.capita.co.uk

  • 9th July 2015

    Fund Recs featured in PwC's Private Business Matters magazine


  • 30th April 2015

    Fund Recs launches Velocity platform for Fund Administrators

    Velocity logo

    Following the successful roll out to clients, Fund Recs is announcing the launch of Velocity which facilitates the streamlined collection and reconciliation of data on the Funds serviced by Administrators.

    Fund Recs was founded in 2013 to fix broken reconciliations, solving for the first time a significant pain point for the Global Funds Industry. Velocity allows administrators to automate trade capture, cash and position reconciliations, improving efficiency and reducing the operational risk of manual error. Velocity provides a live overview of operational progress, identifies break risks as well as the automatic collection of key performance indicators.

    Velocity is fully user configurable, reducing the need for support by clients internal IT teams. Non-technical users can manage data streams, flows and mappings through user screens, removing unnecessary bottlenecks that traditionally required IT intervention.

    Contracts secured on the Velocity platform in recent months have included Mitsubishi UFJ Fund Services and Capita Asset Services. Fund Recs expects to announce new clients on the platform in the coming months as more and more companies continue to transition to the next wave of innovative vendors.

    Outside of its initial core modules Fund Recs is working with its partners to increase the efficiency and transparency of the full fund valuation process. Additional modules are in development as Fund Recs takes a fresh look at the entire Fund Administration life cycle, using the latest technology to create the next generation of industry best practices.

    Ireland is recognised as the world's centre of excellence for Fund Administration. By the end of 2014 there was over �3.2 trillion of assets under administration in Ireland across 13,193 funds. 19 of the top 20 fund administrators have a presence there and the industry employs over 12,000 highly skilled staff. With offices in both Dublin and Waterford, Fund Recs is best placed to deliver the Velocity solution to global clients.

    Commenting on their announcement today, Alan Meaney, CEO of Fund Recs, said "We're really excited to show off the Velocity technology we've developed over the last 18 months. The Fund Administration industry's problem of high costs and relatively low margins has been no secret. Velocity addresses this issue head on by transforming staff from data processors to data analysers. We wouldn't have made it this far without the fantastic feedback and encouragement we've had from our early clients so I'd like to give them a special mention as we reach another important milestone on our journey to automate the valuation process".

    For further information contact:

    Alan Meaney, CEO Fund Recs

    alan@fundrecs.com

    Tel: +353 87 767 8844

    About Fund Recs

    Fund Recs develops cloud-based reconciliation software for the Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-a-Service (SaaS). The Fund Recs software simplifies complex reconciliation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in Dublin and Waterford, Ireland. Investors include Enterprise Ireland and Telefonica.

    Statistics referencehttp://www.irishfunds.ie/fs/doc/statistics/stats-factsheet-december-2014-copy-2.pdf

  • 8th December 2014

    Fund Recs wins Googles 'Best Promotion of Business Online' at Irelands Best Young Entrepreneur Awards

    Padraig award

    Colin Goulding, Head of SME Publishers, EMEA, Google presenting Padraig with his award


    We're delighted to share that Fund Recs Co-founder Padraig O'Scanaill picked up the award from Google for 'Best Promotion of Business Online' at yesterday's Irelands Best Young Entrepreneur Awards held in Googles Foundry building in Barrow Street, Dublin. While Padraig was also one of the three finalists announced on the day in the Start-up Business Category he lost out to eventual overall winner Eamon Keane of Xpreso.

    With over 1,000 entries in the inaugural IBYE competition, winning the Google award is a fantastic achievement for both Padraig and Fund Recs. It is also a privilege to have been named in the final nine of the twenty-four finalists. The competition was extremely tough and the pitches on the day were from businesses with real opportunities on the global stage. If yesterday was any indicator, the future of business and innovation in Ireland is very bright.

    Padraig was humbled and honoured by the whole Irelands Best Young Entrepreneur experience.

    "The IBYE journey has been invaluable for both myself and Fund Recs. It's really helped shape our business proposition and the supports we've already received from the competition have directly helped us to create employment in our company. We honestly thought being shortlisted in Waterford was a great honour. To go on and win that, the regional finals, and now this award has far exceeded our expectations. There are many people who helped me during the competition including the IBYE mentors and organisers and I'd like to thank them all for their support. Special thanks to Ciaran Cullen, Head of Local Enterprise at the Local Enterprise Office Waterford City and his wife Tracey who travelled up on the day to cheer on #teamWaterford." he said.

    The competition was launched earlier this year as part of the Irish Governments Action Plan for Jobs 2014. Below is Padraig meeting Minister for Jobs, Enterprise and Innovation Richard Bruton TD, at our offices in Wayra.

    Padraig award
  • 24th November 2014

    Fund Recs partners with CloudMargin to offer the first fully integrated, cloud based collateral management and portfolio reconciliation platform

    Padraig award

    Dublin and London, 24th November 2014 - Cloud based financial services technology providers Fund Recs and CloudMargin today announced a partnership to offer the first fully integrated, cloud based collateral management and portfolio reconciliation platform. This partnership meets the needs of derivatives users looking to improve processing efficiency, minimize risk and meet the regulatory requirement to reconcile portfolios mandated by EMIR.

    Fund Recs adds the essential operational control and key collateral dispute resolution tool of portfolio reconciliations, a requirement for regulatory compliance under EMIR, into a single user interface with CloudMargin.

    CloudMargin offers clients optimized end-to-end collateral management workflow for the full spectrum of margined products such as OTC bilateral and cleared derivatives, futures and options, repo and reinsurance.

    Andy Davies, CEO of CloudMargin comments: "Clients are increasingly rejecting the outdated technology, high prices and slow implementation of traditional financial technology companies. They are looking for state of the art services that simultaneously empower them to run an efficient, controlled business and comply with their regulatory obligations. Whether the client's prime focus is monitoring counterparty risk, optimizing balance sheet inventory or reconciling their portfolios, CloudMargin and FundRecs together provide the solution the market needs and we're delighted to enter into this partnership."

    Alan Meaney, Director of Fund Recs added: "We are thrilled to formally announce our partnership with Cloud Margin. The team at CloudMargin shares our vision for the new breed of financial services software - innovative, value creating and backed up by industry expertise. Just as we are reimagining reconciliations at Fund Recs the team at CloudMargin are leveraging their years of experience in Collateral Management to create a new, user focused Collateral Management solution. This partnership will allow us to integrate data on both our platforms to benefit our shared customers by reducing the need to send out similar data sets to multiple vendors."

    About CloudMargin
    CloudMargin is the collateral management technology provider meeting the growing needs of derivatives end-users for an affordable, understandable and functionally complete alternative to spreadsheets and manual processes. Focusing on derivatives end-users such as corporate treasurers, insurers, pension funds and asset managers allows CloudMargin to avoid the unnecessary and expensive complications of sell-side focused solutions and instead deliver a cost-effective and understandable web-based platform. Low-cost "pay as you go" menu-based pricing means the end to lengthy technology contracts with punitive exit clauses and costly upgrade cycles. The simple yet powerful web-based interface gives total visibility of proprietary and counterparty or CCP positions while state of the art data visualization and reporting puts clients firmly in control of their businesses.

    www.cloudmargin.com

    Andy Davies, CEO, Tel: +44 (0) 20 3397 5671

    andy.davies@cloudmargin.com

    About Fund Recs

    Fund Recs develops cloud based reconciliation software for the Funds Industry, replacing prehistoric enterprise software with pay as you go Software as a Service. We help firms make complex reconciliations simple. Reconciling data is a core operational function in the Funds Industry. Comparing two data sets, a simple process in theory, becomes increasing complex as you deal with multiple parties (40+ plus brokers) with different formats and delivery methods. We solve the problem of fragmented data by putting the power into the end users hands and by passing IT. Fund Recs was founded in 2013 and has offices in Dublin and Waterford, Ireland. Our investors include Enterprise Ireland and Telefonica.

    www.fundrecs.com

    Alan Meaney, Director, Tel: +353 87 767 8844

    alan@fundrecs.com

  • 10th November 2014

    Irish start-up wins contract with Capita Asset Services

    - Capita Asset Services chooses Fund Recs for trade processing

    Alan Meaney - Co-founder, Fund Recs We're delighted to welcome Capita Asset Services as a client of Fund Recs.

    Alan Meaney - Co-founder, Fund Recs

    Full press release below:

    Dublin, 10 November 2014 - Irish start-up, Fund Recs, today announced that it has secured a major new contract with Capita Asset Services, part of FTSE 100 company Capita Plc. Under the new contract Fund Recs, which develops cloud based reconciliation software for the funds industry, will provide trade processing solutions for Capita's fund business in Ireland. Fund Recs software will be used to automatically capture trades from Fund Managers and post them to Capita's internal fund accounting system.

    Fund Recs was founded in 2013 to provide reconciliation software to global fund administrators. Its software allows companies automate the reconciliation of Cash, Position and FX holdings on the funds they administer thereby removing the operational risk of manual mistakes. Fund Recs also provides a manager dashboard giving a live overview of operational progress as well as automatically collecting key performance indicators.

    By April 2014 Ireland's fund administration industry hit an all-time high of over �2.8 trillion in assets under administration, reinforcing its position as the number one hedge fund servicing centre in the world with 40% of global assets*. Over 12,000 people are employed directly in fund administration across the island with regional hubs such as Limerick and Cork adding to the traditional centres of Dublin and the IFSC.

    Commenting on the new contract, Alan Meaney, Director of Fund Recs, said "We are excited to be working with Capita Asset Services and are delighted they've chosen Fund Recs as their trade processing solution. Our experience and technology are enabling Capita Asset Services transition to a Straight Through Processing (STP) model. This automated model helps reduce operational risk and will also provide additional transparency. As an innovation partner we're actively working with firms similar to Capita Asset Services to create value by finding better ways to do things and also explore new services to drive revenue growth."

    Paul Burke, senior manager, fund accounting for Capita Financial Administrators (Ireland) Limited in Dublin, said "Fund Recs was successful in our competitive trade capture RFP process, primarily for two reasons; fully understanding their clients' requirements and a user friendly solution that reduces manual risk. Fund Recs commitment to the process should enhance Capita's operational model. "

    Having already secured initial investment from Enterprise Ireland since it was founded, Fund Recs is currently accelerating its business in Wayra, one of Ireland's leading digital start-up accelerators. Wayra provides early stage investment to start-ups as well as a dedicated state-of-the-art workspace, access to market leading experts and the channels-to-market necessary to accelerate commercialisation including favourable terms with leading technology suppliers.

    * http://irishfunds.ie/fs/doc/statistics/stats-factsheet-april-2014-ppt.pdf

    -ends-

    For further information please contact:
    Alan Meaney on alan@fundrecs.com

    About Fund Recs
    Find out more at www.fundrecs.com

    About Capita Asset Services

    Capita Asset Services' fund solutions business is part of Capita plc, a FTSE 100 company with market capitalisation of around US$12bn. The fund solutions business employs 550 employees servicing over 300 funds in the UK, Ireland, Luxembourg and the Channel Islands with over US$80bn of assets under administration at 30 September 2014.

    Capita Financial Administrators (Ireland) Limited, regulated by the Central Bank of Ireland, is one of the fastest growing Irish fund administration companies specialising in the administration of both Irish domiciled funds (UCITS and non-UCITS) as well as funds domiciled in the Cayman Islands and the British Virgin Islands.

  • 15th October 2014

    Padraig named Waterford Young Entrepreneur of the Year

    We're excited to share that Fund Recs co-founder Padraig O'Scanaill has been named Waterford Young Entrepreneur of the year in the start up category. Padraig now progresses to the regional finals in Cork.http://www.waterfordchamber.com/index.php/about-waterford/2330-waterfords-best-young-entrepreneurs-win-investment-of-50000

    Padraig award
  • 22nd August 2014

    Fund Recs profiled on Dow Jones Financial News

    Fund Recs was profiled by Anna Irrera on the popular Financial News. You can view the article here: http://thetally.efinancialnews.com/2014/08/fn-fintech-focus-fund-recs/

    Hedge Fund Insight
  • 17th July 2014

    Fund Recs whitepaper published on Hedge Fund Insight

    "AIFMD Depositary: Developing an Operating Model", a recent whitepaper co-authored with Shane Brett of Global Perspectives, has been picked up and published on Hedge Fund Insight. You can view the article here: http://www.hedgefundinsight.org/an-operating-model-for-an-aifmd-depositary

    Hedge Fund Insight
  • 18th June 2014

    Fund Recs at IFIA Annual Global Funds Conference 2014

    We really enjoyed our day at the IFIA Annual Global Funds Conference. It was great to meet both old faces and new. A special thanks to Carol and the team at the IFIA for putting on such a great event. It was also humbling to hear Pat Lardner mention Fund Recs in his closing remarks.

    Enterprise Ireland
  • 6th May 2014

    Fund Recs announces investment from Enterprise Ireland

    Fund Recs is delighted to announce that Enterprise Ireland has come on board as an investor in the company through it's Competitive Start Fund. Commenting on the news Co-founder Alan Meaney said "We're delighted to have Enterprise Ireland on as investors. It validates what we're doing with Fund Recs and Enterprise Ireland share our vision of combining the latest technology with the Funds expertise available in Ireland to create innovative solutions."

    Enterprise Ireland
  • 25th April 2014

    Fund Recs to host AIFMD Depositary breakfast briefing

    Join us at our breakfast briefing to hear the latest AIFMD developments with a specific focus on the Depositary function.

    There will be an opportunity to ask the panel questions after the final speaker.

    Complimentary tea/coffee and pastries will be provided on the morning along with a goodie bag from Fund Recs.

    Click here to grab a free ticket

  • 26th February 2014

    Startup Story - Introducing Fund Recs

    Fund Recs provides reconciliation software to Global Fund Administrators. Our software allows these companies automate the reconciliation of Cash, Position and FX holdings on the Funds they administer. We're providing an alternative to having this work carried out in low cost bases such as India and as an upgrade to legacy in-house systems. Read more...

    Startups.ie
  • 2nd February 2014

    Company finds its niche in funds industry

    Signing up their first client earlier this month was a land-mark event for the founders of software start-up Fund Recs. Read more...

    Sunday Business Post
  • 14th January 2014

    GUEST BLOG: New Year - time to start your own business?

    By the end of 2013 Ireland's fund administration industry hit an all-time high of over �2.5 trillion in assets under administration, reinforcing its position as the number one hedge fund servicing centre in the world with 43% of global assets and also boasting the fastest growing UCITS domicile. Read more...

    Business and Finance
  • 1st January 2014

    Fund Recs featured as a "New Innovator" in the Irish Times

    Funds administration is a key part of the Irish financial services landscape. It's also a highly competitive industry with tight margins. According to Alan Meaney co-founder of start-up company, Fund Recs, this has led to an increased amount of routine processing work being outsourced to locations outside Ireland. Read more...

    Irish Times
  • 23rd December 2013

    Fund Recs named Tech start-up of the week

    Our start-up of the week is Fund Recs, provider of reconciliation software to global fund administration companies. Fund Recs provides an alternative to outsourcing reconciliation work to low-cost bases, such as India, and offers upgraded technology to replace legacy in-house systems. Read more...

    Silicon Republic
Reconciliation software for the Funds Industry

Our clients include:


THE APEX GROUP
Grant Thornton
SANNE
Deloitte