Channel Capital picks Fund Recs’ Velocity platform for reconciliation processes
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Channel Capital picks Fund Recs’ Velocity platform for reconciliation processes 28 September 2021Australia Reporter: Jenna Lomax
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Channel Capital, a global funds management firm, headquartered in Australia, has selected 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.
Channel Capital will utilise Velocity to drive further automation in its reconciliation process across its AUD18 billion of funds under administration including cash, position and month-end net asset value reconciliations across multiple asset classes.
Velocity helps reduce operating costs overall by delivering efficiencies throughout middle- and back-office processes.
Founded in 2013, Fund Recs has offices in New York, Dublin and Waterford, Ireland.
Josh Yeo, COO at Channel Capital, says: “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.”
Alan Meaney, CEO at Fund Recs, comments: “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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