The traditional approaches for aggregating data for reconciliation are time consuming and costly and require significant and ongoing investment in people, process and technology.
As a result, firms want solutions that can lower their total cost of operations.
AMFCO has partnered with ByAllAccounts, a recognised leader in account aggregation to buy-side firms, to bring asset managers, private banks, wealth managers, hedge funds and custodians the benefits of a turnkey data and reconciliation solution. The joint offering delivers aggregated, reconciliation-ready data within the TLM Reconciliations and TLM OnDemand solutions.
ByAllAccounts’ patented technology electronically gathers financial account data from more than 3,300 online sources (custodian, broker and prime broker). Standardised data is delivered into the TLM reconciliation solutions, bridging the gap between the online account information available to investment managers and the accurate, consolidated, reconciliation-ready data they need.
The benefits of this integrated approach include:
- Lower reconciliation costs
- Shorter reconciliation cycle by eliminating manual processes.
- More client-focused operations as staff focus on relationship management rather than transaction processing.
- Timelier investment actions through automated alerts.
- A competitive selling point to attract new institutional and corporate clients.
- Reduced risk and improved compliance through secure, consolidated client records