Fund administer Maples Group has gone live on an automated cash and positions reconciliations platform provided by Fund Recs.
Maples Group has implemented the Fund Recs Velocity platform in its global offices to further support automation throughout the reconciliation process in order to increase efficiency and optimise client deliverables.
Velocity is a set of software modules to help fund administrators, investment managers and auditors to achieve straight-through reconciliations.
“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,” said Tyler Kim, global head of fund services, Maples Group.
Fund Recs has onboarded a number of new fund administrator and corporate service provider clients to its Velocity platform, including Curo Fund Services, South Africa’s largest third-party administrator, SANNE, and Grant Thornton Ireland.
“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,” added Alan Meaney, Fund Recs CEO.