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."
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 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.
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