Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced Open Finance TFI has implemented Linedata Mfact, the award winning fund accounting solution.
Based in Warsaw, Poland, the investment fund company offers innovative investment products for individual and business clients. Founded in 2012, Open Finance will use Linedata Mfact for its automation capabilities, flexible general ledger and accounting rules in addition to its comprehensive reporting suite as they extend their range of products and services.
Fund companies continue to face complex regulations and increased investor demands. With the additional need to improve operational efficiencies and pressures to cut costs, firms must have the framework in place that provides automation and scalability to meet these challenges. Having the correct technology infrastructure is vital to complying with the many reporting burdens.
With over 20 years of proven experience, including 18 years in the Polish market, Linedata Mfact is used by some of the world's leading financial institutions. Linedata Mfact offers full instrument coverage, flexible data interfacing, automated task scheduling and NAV dashboard oversight capabilities to provide firms with the technology to work more efficiently.
"As a new firm, we know Linedata is providing us the platform necessary to quickly and effectively help us build our business," said Piotr Habiera, Managing Director at Open Finance TFI. "Linedata's proven track record across their existing global client base is a strong one and choosing a reputable provider was important to our decision."
Linedata provides Open Finance with the functionality that will evolve as they grow. With Linedata Mfact, Open Finance will have a comprehensive accounting and reporting platform to handle their global needs as they expand into new market and business lines.
"We are pleased to have Open Finance as our newly implemented client. Having them select Linedata after a comprehensive search validates our belief that we are offering the best solutions to fund managers and administrators," said Adrian Andrews, Mannaging Director of Linedata Northern Europe. "Linedata Mfact will be instrumental in supporting Open Finance in their current and future business requirements."