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.”
About Fund Recs
Fund Recs is the doing platform for funds. We translate complex workflows into a series of simple actions to help people manage, move, and reconcile their fund data at scale. Founded in Ireland in 2013, the clients we serve are spread across the world and our remote-first team continues to grow to help meet the challenges of doing business, meeting regulations, and scaling through people and technology.
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