Fund Recs Transfer Agency Bank Rec module, part of the Velocity platform, ensures all transactions flowing through TA collection accounts are accurately linked to approved fund dealing. This ensures a robust process is in place and allows full visibility of the reconciliation process.

To achieve STP, Fund Recs has established interfaces to ingest bank data from banking partners and transaction data from Link’s transfer agency system, ManTra from HWM. Link also utilise Fund Recs’ reporting tools to meet regulatory reporting requirements and facilitate transaction settlement within ManTra.

Delivered as a fully hosted Software as a Service solution, Fund Recs provides live in app support to assist with onboarding and help meet daily deadlines.

Alan Meaney, CEO of Fund Recs, said: “We’ve been working with Link Asset Services for a number of years now and are constantly impressed by their drive to deliver enhanced client services through innovation. Transfer Agency Bank Recs is an area of increased focus in the Industry and we’re proud of the safe guards our software adds to the process while also increasing overall efficiency.”

Derek McGrath, Shareholder Services Senior Manager at Link Asset Services said: “The implementation of the Fund Recs Transfer Agency Bank Rec module delivers efficiencies throughout our Settlements function. As well as enhancing our reconciliations, the module enables the streamlining of additional settlement processes through integration with our transfer agency system, ManTra from HWM. The ability to generate detailed reporting, allowing us to meet regulatory requirements, in a more streamlined fashion, is also hugely beneficial and will help us deliver a better service to our clients.”