The new alliance will benefit the asset managers, asset owners and fund administrators. Credit: Confluence Technologies.

Confluence Technologies has joined forces with FundGuard, an AI-based multi-asset class investment accounting platform, to help asset managers, asset owners and fund administrators to streamline their fund reporting activities.

Under the tie-up, Confluence’s fund administration platform Unity along with its asset management performance and risk offering Revolution will be integrated with FundGuard’s investment accounting platform.

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The integration solution will allow users to increase their operational efficiency.

The Unity and Performance and Risk platforms of Confluence have been designed to automate and blend critical fund administration procedures, such as the collection, creation, confirmation and delivery of investment product details.

FundGuard’s digital multi-book investment accounting platform is capable of providing asset managers and their service providers with real-time data that is integrated across different workflows.

Using the firms’ offerings, customers can manage additional funds with reduced resources and get rid of errors.

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This will also help the users to maintain regulatory transparency.

The latest alliance comes after FundGuard received an investment of $40m in its Series B round to expand its global asset servicing capabilities.

FundGuard president John Lehner said: “The partnership we have developed with Confluence allows our collective clients to benefit from more enhanced fund reporting capabilities.

“Our shared goal to help customers streamline their operations while navigating increasingly complex data challenges has led us to an optimised solution that combines strengths from both platforms to deliver the best possible customer experience and outcomes.”