Fascet, a leading provider of enterprise data management solutions for financial services firms, announced today that Meridian Global Fund Services Group, a leading fund administrator, has implemented Fascet Balance and Fascet Conduit solutions for its enterprise data management.
With the implementation of both Fascet Balance and Fascet Conduit as a combined solution from one vendor, Meridian Global Fund Services now has cost-effective data normalization and business process management solutions and the ability to automate the process of transaction matching and account reconciliation.
"Our implementation of the Fascet solutions for fund administrators has significantly increased the functionality of our back office and provides more efficiency in daily and monthly processing for our investment management clients," said Tom Davis, CEO Meridian Global Fund Services."The complexity of our growing client base demanded a solution that allowed us to build out the additional infrastructure required to handle the administration of large trading volumes and managed accounts, particularly for clients with multiple prime brokers."
"We are very excited about the strategic partnership with Meridian Global Fund Services and to add them to our roster of fund administration clients," said Chuck Ross, Senior Partner at Fascet LLC. "Today's fund administrators require the ability to scale their operations while responding to new demands on data processing from multiple prime broker relationships and new fund structures."