announces its partnership with iSoftware4Banks, a US-based provider of services to support effective financial reporting and compliance.
AutoRek and iSoftware4Banks are joining forces to meet their common goals of improved automation and delivering ROI in the financial services space. Combining highly experienced consultants with leading data management technologies will help achieve this.
The partnership stemmed from the unprecedented events of 2020. The historically office-based financial services industry has moved from the environment it has always known to company-wide working from home within a matter of days. This resulted in various operational issues surfacing across banks, credit unions, investment managers and insurance firms, thereby requiring IT infrastructure, systems and outsourced services to be reviewed globally to future proof robust operational resilience strategies to ensure uninterrupted service.
Head of Partnerships at AutoRek, Marc McCarthy, stated, "Our partnership with iSoftware4Banks comes at a crucial point of this year. As financial services firms consider their 2021 budgets after a turbulent year of operational risk, they will inevitably seek optimal value, which together we are confident in delivering.”
Vincent Raniere, Chief Executive Office, iSoftware4Banks, commented, “We are delighted to be partnering with AutoRek to offer excellence in financial and operational controls to meet regulatory and compliance requirements. In-depth market research confirmed AutoRek’s solution is the best on the market, and we look forward to working together.”
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Notes to editors
AutoRek is a leading software provider to companies in the global financial services arena.
An industry pioneer at the forefront of data management, AutoRek’s customisable tools enable firms to automate and streamline the collection, validation and reconciliation of data. This facilitates the necessary transparency for good governance and fulfilling regulatory obligations. Efficiency and cost reduction are delivered by eliminating spreadsheets and manual processing, as well as mitigating operational and regulatory risk associated with migrating high volumes of data.
Its clients span the asset management, banking and insurance sectors and include high street banks, challenger organisations, start-ups and crowdfunding platforms.
Current Managing Director, Gordon McHarg co-founded AutoRek in 1994 as an information and data management consultancy, later developing and coding its own software, successfully still in use today.
Headquartered in Glasgow, with offices in Edinburgh, London and New York, the firm has over 80 employees, possessing extensive experience in finance, regulation and technology.
Corporate social responsibility is at the heart of AutoRek’s ethos and it is involved in a number of initiatives to reduce waste, help local communities and create a positive work environment for its employees.
iSoftware4Banks, Inc. (IS4B) is a top resource for specialized personnel and automation products. With proficiency in global payments, financial regulatory compliance and reporting automation - plus first hand experience of its impact on technology and operations within the financial industry - the IS4B team of seasoned operations and compliance professionals provides services to an organization's business development, strategic planning, and implementation support for a variety of software solutions worldwide.