Ireland South East Financial Services Cluster members collaboration

CSC Goes Live on Fund Recs Velocity Platform for Cash, Position, and Trade Reconciliations

Fund Recs today announced that CSC have gone live on the Velocity Platform. In April 2020, CSC announced its Fund Services expansion into Ireland as part of its long-term strategy to provide global clients access to their suite of fund administration, capital markets, and depositary services. Fund Recs will be supporting CSC through this expansion to help automate multiple processes.

Velocity is a set of cloud-based software modules that helps investment managers, global fund administrators, and auditors to achieve straight-through reconciliations and data processing in their middle and back offices. CSC has implemented the Velocity platform to further support automation throughout the reconciliation process, ultimately increasing efficiency and optimising client deliverables.

“Fund Recs, much like CSC, offers best-in-class systems, solutions, and service”: said Liam McHugh, CSC’s managing director for European fund administration. “This partnership is a significant value-add to our business which will help us continue to focus on providing a consistently high level of service to our clients as we grow our fund administration and depositary offering in Ireland and Europe.”

“Through our engagement with CSC we’ve delivered a strong relationship and are excited to be working with a group that has such a focus on providing high quality client service,” said Fund Recs Chief Executive Officer Alan Meaney. “By automating multiple processes, CSC will now be able to deliver an even better client service. Software only provides leverage to great people and we look forward to supporting CSC as they continue to innovate for the benefit of their global client base.”

About Fund Recs

Fund Recs develops cloud-based reconciliation and data management software for the global Funds Industry, replacing outdated enterprise software with a pay-as-you-go Software-as-“a-Service (SaaS). The Fund Recs software simplifies complex reconciliation and data transformation in the funds industry reducing the time to complete reconciliations by up to 90%. Fund Recs mission is to automate and improve the valuation of funds. Founded in 2013 Fund Recs has offices in New York, Dublin and Waterford, Ireland. In 2016 Fund Recs was named “European Start-up of the Year” at the ICT Spring Conference in Luxembourg. www.fundrecs.com

About CSC

CSC is a leading provider of fund services globally. We support alternative asset managers across a range of fund strategies, capital markets participants in both public and private markets, and corporations and institutions requiring fiduciary and governance support. We are the unwavering partner for 90% of the Fortune 500®, nearly 10,000 law firms, and more than 3,000 financial institutions. CSC’s Global Financial Markets professionals are located in key financial centers across the United States, Europe, and Asia-Pacific. We are an international company capable of transacting wherever our clients are, with highly experienced teams in every jurisdiction we serve. Find out more at: www.cscgfm.com

Read more about Ireland South East’s Financial Services cluster here