is working to make life easier for mutual fund executives by streamlining the fund administration.
"All companies are basically made up of sets of data, so we see everything as data," Kirk Botula
, chief operating officer of Confluence, tells the MFWire
. "Our goal is to streamline the data to allow fund companies to have better control over it," he added.
Controlling data is exactly what Confluence's service "The Fund Administration Platform" is made for.
The platform is designed to collect, create, confirm, and deliver data in that order. The system incorporates performance, board books, post-trade compliance, holdings, expense management, accounts payable, third party data, marketing and financial statements.
The platform centralizes data from all these area of fund management and then uses it for multiple purposes. The goal is to eliminate the cost and repetitive nature of multiple parallel processes.
The Confluence platform is currently used by 60 percent of U.S. mutual funds.
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