After years of little change, the best reconciliation platform category in the BST Awards has become one of the most hotly contested. SmartStream Technologies won the first four awards, while last year, Electra Information Systems took the crown. Now, for the second year in succession, we have a new champion: Indus Valley Partners.
Thanks to an explosion of data and increased regulatory scrutiny, asset managers have found themselves under pressure when it comes to managing their reconciliations. Their legacy platforms—if not necessarily outright manual processes—are costing them time and money. Indus Valley Partners’ IVP Recon offering boasts the flexibility and scalability needed to address these challenges. The firm built its business, initially focusing on the sell side, to one that is an integral part of the alternative asset management industry.
IVP Recon offers a scalable architecture that allows buy-side firms to streamline their data capture and validation processes, in addition to offering them advanced exception management and reporting functionality. It is designed to help hedge funds handle high transaction volumes, complex instruments, and multiple counterparties across a swath of trading strategies.
IVP Recon version 6.0, also allows clients to map new counterparties or systems to their own technology stacks with no external support, while updating existing interfaces. This helps them reduce bottlenecks and helps to automate the reconciliations required to support the full trade lifecycle.
According to Gurvinder Singh, CEO of Indus Valley Partners, IVP Recon’s latest update features a redesigned user interface to ensure that everything an operations user needs can be obtained within a click or two. The vendor is also exploring how to use machine learning to streamline the reconciliations space.
“With the maturity of algorithms, especially machine-learning algorithms, we believe that there is an opportunity to transfer that expertise from non-fintech domains—such as social networks like Facebook and LinkedIn—to the fintech domain around our full product suite,” Singh says.
IVP Recon offers a scalable architecture that allows buy-side firms to streamline their data capture and validation processes, in addition to offering them advanced exception management and reporting functionality.
Looking ahead to 2016, IVP is looking to add a natural language rules engine to allow operations staff to develop new rules in English, he adds. It also hopes to include machine-learning agents that will improve operations teams’ productivity by learning common processes.
While reconciliations can, at face value, appear pallid (relative to other buy-side business processes), Indus Valley Partners is separating itself from other vendors in the field by applying new technologies to an already mature market.
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