London-based investment management firm Albar Capital has gone live on the Fund Recs Velocity platform for automated position reconciliations.
Velocity is a collection of cloud-based software modules that provide middle- and back-office straight-through reconciliations and data processing for investment managers, global fund administrators and auditors.
Rajesh Krishnan, head of operations at Albar Capital, said: “We are delighted to partner with Fund Recs to implement Velocity to automate our position reconciliations.”
“Velocity has made our team more efficient by eliminating manual processes, reducing risk of errors and ensuring automation throughout our reconciliation process.”
Alan Meaney, CEO of Fund Recs, added: “Albar Capital is another great example of a firm with a focus on leveraging innovative solutions like Fund Recs to automate their middle and back office.”
Earlier in July, Maples Group also joined the Fund Recs Velocity platform in order to automate cash and position reconciliations.
