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

A-Team Insight Blogs

Onwards and Upwards for Autorek

AutoRek, a global financial controls, regulatory reporting and data management platform headquartered in Glasgow, has big ambitions – seeking to expand into new markets following a big win for its reconciliation business with the addition this month of the Bank of England as its latest client.

The firm, which launched back in 1994 as an information and data management consultancy, evolved into its current incarnation in 1998 when it became Microsoft’s first gold certified partner for business intelligence services. Since then it has specialised in providing automated reconciliations, transaction matching, financial controls and regulatory reporting assistance (primarily for CASS and MiFID II) to the asset management and investment banking industries, both through in-house software systems and on the cloud as a managed service.

In its latest deal, the result of a competitive tender process, Autorek will automate the reconciliation processes of the Bank of England in a two-phase project, working within the finance and operations divisions to provide a centralised platform for its daily and monthly reconciliation tasks, covering around 50 users.

“It is a testament to the whole AutoRek team that we have been able to successfully engage with an institution such as the Bank of England,” says Managing Director Gordon McHarg, Managing Director. “As we enter our 25th year of operations we have and continue to work with a broad range of leading insurance, investment management and banking organisations. I look forward to AutoRek delivering value and efficiencies for the Bank as we move into the implementation phase.”

As the firm moves into 2020, it has set its sights on even wider horizons. Speaking to Data Management Insight, a spokesperson confirmed that plans are afoot to push further afield, focusing on global expansion – particularly in the US, as well as building out its capabilities within the insurance market. Autorek already has a strategic alliance in the US with AI-driven cash allocation firm Cforia, first inked in April 2019, to offer clients end-to-end solution from cash collection to cash application and cash reconciliation. Its latest ambitions, however, will look to boost the financial services side of the business.

Related content


Upcoming Webinar: Deploying knowledge graphs in the real data management world

Date: 16 November 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Knowledge graphs that link data across a wide and diverse range of sources, incorporate both structured and unstructured data, visualise connected data, and provide in-depth contextual search capabilities that deliver business insight without moving data offer great potential for...


Sponsored Blog: FRTB: Local Rules Divergences Add Complexity

By Fausto Marseglia, Head of Product Management, FRTB and Regulatory Propositions, Refinitiv. As the implementation date for FRTB approaches, differing local interpretations of the rules are adding further complexity to an already multi-faceted challenge facing banks. The Fundamental Review of the Trading Book (FRTB) forms part of the Basel III framework with aim of making...


TradingTech Summit Virtual

TradingTech Summit (TTS) Virtual will look at how trading technology operations can capitalise on recent disruption and leverage technology to find efficiencies in the new normal environment. The crisis has highlighted that the future is digital and cloud based, and the ability to innovate faster and at scale has become critical. As we move into recovery and ‘business as usual’, what changes and technology innovations should the industry adopt to simplify operations and to support speed, agility and flexibility in trading operations.


ESG Handbook 2021

A-Team Group’s ESG Handbook 2021 is a ‘must read’ for all capital markets participants, data vendors and solutions providers involved in Environmental, Social and Governance (ESG) investing and product development. It includes extensive coverage of all elements of ESG, from an initial definition and why ESG is important, to existing and emerging regulations, data challenges...