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Ascentric selects AutoRek Solution

AutoRek, a leading provider of financial controls and reporting software, today announces that its flagship reconciliation tool has been selected by Ascentric, the award-winning wrap platform.

As well as using AutoRek to automate stock and cash reconciliations, Ascentric will be using the software to automatically settle trades and allocate cash received to customer accounts promptly.

Ascentric plan to use AutoRek in conjunction with its new wealth management administration platform Sonata which is supplied by Bravura. Once Ascentric convert to Sonata, AutoRek will be used to store archived data from Ascentric’s existing systems to ease transition but also to ensure vital data is easily accessible thereafter.

Mark Hastings, Finance & Risk Director at Ascentric commented “At Ascentric, we always look to work with ‘best-of-breed’ partners, so selecting AutoRek for cash and stock reconciliation in our new platform back office system was the logical choice. It’s highly configurable and its ability to process high volumes of data will deliver significant efficiencies for our business and better customer outcomes.”

Gordon McHarg, Managing Director at AutoRek, comments: "We are delighted to add a market-leading provider like Ascentric to our client portfolio of wrap platform providers, and to work with Bravura to build such an effective end-to-end solution for them.”