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."
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