Paralel Technologies (Paralel), a Colorado-based fintech firm, has selected Confluence for its regulatory and reporting compliance. As part of the mandate, Paralel will utilise Confluence’s Unity NXT Regulatory Reporting solution as well as its Unity Financial Reporting product. With Confluence’s Unity NXT solution, Paralel will be able to streamline its processes and reduce risk in a controlled system that facilitates reviews and standardisation. Unity NXT Regulatory Reporting is designed to ease data management challenges and automate the filing processes for global regulatory reporting obligations. Confluence’s Unity Financial Reporting product produces annual reports and can be used in collaboration with Unity Performance to produce daily funds performance reports for clients. Tom Pfister, vice president of global product strategy at Confluence, comments: “As the fund services industry continues to head in the direction of full-service offerings, it is particularly exciting to work with innovators like Paralel, a new breed of third-party administrator that is committed to helping clients address challenges and enhance the services they provide to the end investor.” Jeremy May, founder and CEO of Paralel, says: “Having worked successfully with Confluence in the past, I knew about the company’s streamlined and efficient processes when it comes to its back-office product offerings. We are thrilled that we partnered with Confluence for our company launch and look forward to continuing to work with them as we deliver disruptive and cutting-edge solutions to asset managers.”
