Capita Asset Services 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, says: “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 (pictured), director of Fund Recs, says: “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.”