The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

FundGuard Plans Product Development to Drive Transparency in Fund Administration

New York-based FundGuard, a pioneer of AI in investment management and asset services, has completed a $12 million Series A funding round. The company will use the funding for product development to meet increased regulatory demands for transparency and resilience in the fund administration segment. The company works with several of the world’s largest fund administrators and asset managers, as well as alternative funds and insurance companies.

Lior Yogev, FundGuard CEO and co-founder, says the company aims to address the inefficiencies and lack of transparency that often characterise legacy platforms, many of which are based on technologies developed in the 1980s, with a flexible and scalable platform that uses AI capabilities to automate and streamline workflows, identify anomalies and generate actionable analysis.

So far, interest in the company’s SaaS platform has come mostly from traditional asset management and fund administration firms. A significant entry point is the need for ‘shadow NAV’ calculations in the wake of historic legal action seeking compensation for erroneous calculations and more recent outages that have resulted in many buy-side firms being unable to fulfil their NAV reporting obligations.

“Financial institutions are getting away from batch infrastructure, they’re gearing up to be faster,” says Yogev, noting digital transformation driven by client demands for increasingly real-time engagement, and the resulting need for institutions to more rapidly calculate valuations, risk and cash positions. This shift is complemented by the compression of settlement times and the increasing frequency of data delivery by pricing and valuations providers.

FundGuard’s latest funding round was led by Israeli venture capital firm Team8 and existing investors Blumberg Capital and LionBird Ventures, bringing total funds raised to date by the company to $16 million.

Related content

WEBINAR

Recorded Webinar: The post-Brexit UK sanctions regime – how to stay safe and compliant

When the Brexit transition period came to an end on 31 December 2020, a new sanctions regime was introduced in the UK under legislation set out in the Sanctions and Anti-Money Laundering Act 2018 (aka the Sanctions Act). The regime is fundamentally different to that of the EU, requiring financial institutions to rethink their response...

BLOG

SmartStream Adds Microsoft Azure Cloud Hosting for Air Data Reconciliation Solution

SmartStream Technologies has extended the reach of its Air cloud and AI based data reconciliation solution with version 3, which is hosted on the Microsoft Azure cloud required by some global regions to support all their data requirements. SmartStream Air was originally hosted on the Amazon Web Services (AWS) cloud and is now available on...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...