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Fund Firms Select Confluence RegTech Solution to Meet Onerous SEC Modernization Challenges
[January 27, 2017]

Fund Firms Select Confluence RegTech Solution to Meet Onerous SEC Modernization Challenges


Confluence, the global leader in investment data management automation, today announced that the first four clients have licensed Confluence's Unity NXT Regulatory Reporting platform to manage end-to-end filing processes for the new and onerous regulatory reporting requirements imposed by the SEC (News - Alert) Investment Company Reporting Modernization rules. Following the announcement of the final rules in October of 2016, Confluence has seen unprecedented urgency in the market to solve the data-intensive reporting challenges imposed by Form N-PORT and Form N-CEN to ensure preparedness well in advance of the initial filing deadlines in 2018.

The Unity NXT Regulatory Reporting platform, powered by Synapse™ and introduced by Confluence in May 2016, will assist these firms in addressing the challenges of data-intensive new requirements like Form N-PORT and Form N-CEN. These mandates require new data, new formatting and condensed reporting timeframes that present a monumental operating challenge to back-offices. Firms will need to comply with the SEC Investment Company Reporting Modernization rules as soon as June 1, 2018, and new requirements will affect approximately 13,000 U.S. mutual funds.

Synapse provides powerful data integration and workflow automation that easily accommodates changes to regulatory requirements. he platform's agile design enables asset managers and servicers to quickly develop new reporting capabilities with minimal cost and complexity as regulators continue to mandate new and changing regulations.

"As timelines for meeting regulatory mandates continue to condense, and the amount of data and number of data sources continue to increase, the biggest challenge facing the industry will be keeping up with the pace and scale of regulatory reporting," said Todd Moyer, Executive Vice President of Global Business Development at Confluence. "Through the Unity NXT Regulatory Reporting platform, our clients can leverage a single, validated regulatory data set that can be reused across the entire enterprise-achieving the efficiency, scalability and speed required to meet reporting mandates."

About Confluence


As a global leader in data-driven solutions for efficiency and control, Confluence solves tough data management and automation challenges for the asset management industry, including performance reporting, regulatory reporting, investor communications and fund expense management. Confluence solutions enable asset managers and third-party administrators to consolidate and leverage data across business operations which results in lower costs, reduced risk, decreased reporting turnaround times and the scalability to automate more processes without additional resources. The platform features solutions to support a wide array of fund types - including mutual funds, ETFs, alternative investments, institutional portfolios and UCITS funds. Seven of the top 10 global service providers license Confluence products and eight of the top 10 global asset managers have business processes automated through Confluence.

Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with locations in Brussels, Dublin, Ho Chi Minh City, London, Luxembourg and San Francisco. For more information, visit www.confluence.com.


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