Linedata Enhances Exception Management Capabilities

The upgrade was made to the firm's fund accounting solution, Mfact.

Linedata is headquartered in Paris.

Linedata has updated its Mfact fund accounting solution with improved business process management capabilities, enhanced corrections processing, an integrated weekend/holiday schedule and improved handling for irregular paying debt instruments.

Linedata Mfact forms a key part of the Linedata Admin Edge platform, supporting end-to-end fund administration for alternative, traditional and liquid alts funds, according to the vendor. The Linedata Optima specialist BPM tool will provide a centralized exception management and process monitoring tool. This new version of Linedata Mfact has added processes and greater flexibility for the planning and scheduling of processes.

Mfact also features a redesigned corrections module that automates all background calculations and processing steps required when changes to historical transactions are needed. "This gives a more streamlined way of identifying and making transaction corrections, without sacrificing the benefit of a full audit trail of all actions," according to the firm.

User-defined weekend and holiday schedules were incorporated into the platform, as well. This will allow for "the full support of all T+ conventions and automates the calculation of accrual cycles for irregular paying debt instruments."

"With these latest enhancements to Linedata Mfact we are delivering greater automation of core processes and more comprehensive exception management, to enable our clients to handle more effectively the higher volumes and broader instrument requirements that they are experiencing," said Michael Galvin, product manager at Linedata, in a release. "At Linedata we continue to invest in our fund services offering to ensure that our clients can rely on us to meet their administration system needs, in terms of automation, functionality, scalability, regulatory updates and new instrument coverage."

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