WealthTechs Confluence, FundGuard partner up

WealthTechs Confluence, FundGuard partner up

Confluence Technologies has partnered with cloud native, AI-powered investment accounting platform FundGuard.

This deal will combine functionality from Confluence’s fund administration platform Unity and Revolution, with FundGuard’s investment accounting platform. Through this they hope to improve operational efficiency and streamline fund reporting for asset managers, asset owners, and fund administrators.

The Unity and Performance and Risk platforms automate and integrate critical fund administration processes, including the collection, creation, confirmation and delivery of investment products.

FundGuard supplies asset managers and their service providers with a digital multi-book investment accounting platform with real-time data that is easily integrated across all workflows.

Their joint capabilities will support faster and more consistent reporting, allowing customers to handle more funds with fewer resources and eliminate errors.

Speaking on the deal, Confluence managing director Tom Pfister said, “With ever-evolving regulations a part of today’s reality, customers are demanding fund reporting systems that are fast, integrated, consistent and easy to use. Confluence’s UnityTM and UnityTM NXT Regulatory Reporting platforms complemented by FundGuard’s solution strengthens delivery quality, and drives regulatory-compliant results with speed, scale, and efficiency.”

FundGuard president John Lehner added, “Our shared goal to help customers streamline their operations while navigating increasingly complex data challenges has led us to an optimised solution that combines strengths from both platforms to deliver the best possible customer experience and outcomes.”

FundGuard previously raised $40m for its Series B funding round, which was backed by Citi, State Street, Blumberg Capital, LionBird Ventures, Team8 Capital and others.

In other WealthTech news, Masttro, a WealthTech firm that manages the wealth of ultra-high-net-worth families, raised $43m in a growth equity investment. The company offers a tool suite that uses data and AI to implement a frame for wealth data extraction, processing and analysis.

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