INDOS Financial has gone live with the second and key phase of the integration of its cloud-based DEPOcheck software, which provides an integrated workflow management and fund oversight solution for depositary businesses and involves the release of cash flow monitoring and asset record keeping and verification modules.
This includes functionality to process large volumes of complex financial data from multiple industry sources (fund administrators, prime brokers, and custodians) with different file formats, for example, to identify significant and unusual financial transactions, bringing such anomalies to the attention of the user for further investigation.
Phase 3 is due to be completed in Q1 2018, and will involve automation of certain fund net asset value oversight activity, and integrated artificial intelligence features for data analyses.
Indos Financial specializes in providing independent AIFMD depositary services to alternative investment funds. INDOS was the first FCA-authorized AIFMD depositary and now provides depositary services to over 80 funds that have in excess of $15bn in assets. Clients include EU and non-EU managers managing a broad range of open- and closed-ended alternative investment fund strategies ranging from hedge funds, to private equity, real estate and other closed-ended funds.
Phase 1 of the project, completed in late 2016, provided a comprehensive work flow management system to record daily, weekly, monthly and quarterly depositary activity, mapped to the AIFMD depositary requirements, covering hedge funds, private equity and real estate funds.