FundRock Management Company S.A. (FundRock) has launched an innovative online due diligence tool to facilitate clients and delegates in meeting increasing relevant regulatory requirements.
The solution is the result of a year-long collaborative development with 2Gears S.A. on the Governance.io investment fund oversight platform. The online tool speeds up the due diligence review process by pre-populating answers or providing multiple-choice answer options, where possible; making it easier to attach documents through a drag and drop functionality; and instantly providing risk ratings and generating the final report in a few short clicks.
The solution was developed in response to increasing amounts of scrutiny from regulators regarding the regulatory compliance of funds and their network of delegates - one of the core duties of fund management companies like FundRock.
"We continuously develop and invest in our people and our platform in order to provide a best-in-class infrastructure for our clients," explained Ross Thomson, FundRock's Director of Operations Oversight. "This new solution is an important addition to our technology arsenal as we continue to innovate our long standing fund management and distributor due diligence business."
"We are delighted to have helped FundRock and their clients through our technology," added Bert Boerman, 2Gears' CEO. "We have developed Governance.io to help professionals to deal with heavy regulatory duties, and to get total transparency and control in a simple way."
He concluded: "Even though the industry recognizes the lack of technological solutions, the pace of innovation is still relatively slow. It is partnerships with, and input from early adopters like FundRock that allow us to bring these solutions to the market fast."
