Pittsburgh, PA, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider helping the investment management industry solve complex investment data challenges, today announced that Paralel Technologies (“Paralel”), a Colorado-based fintech firm redefining the relationship between asset managers and their back offices, will use three Confluence products for its core back-office needs. The multi-year deal includes the use of Confluence’s regulatory reporting, performance, and financial reporting products. Paralel began operations on November 22, 2021, and began using Confluence’s products that day.
In using Confluence’s Unity NXT® Regulatory Reporting solution, Paralel can streamline their processes and reduce risk in a controlled system that facilitates collaboration, review and standardization. Paralel is also utilizing Confluence’s Unity Financial Reporting product to produce cover-to-cover annual reports and Unity Performance to produce daily funds performance reports for their clients.
“Confluence is proud to offer its technology to firms of all sizes – from startups and new companies like Paralel who are looking to disrupt their respective industries, to the world’s largest managers,” said Tom Pfister, Vice President of Global Product Strategy at Confluence. “As the fund services industry continues to head in the direction of full-service offerings, it’s particularly exciting to work with innovators like Paralel, a new breed of third-party administrator that is committed to helping clients address challenges and enhance the services they provide to the end investor.”
“When we set out to launch Paralel, we knew we wanted to offer something new to the market from the very beginning,” said Jeremy May, Founder and CEO of Paralel. “Having worked successfully with Confluence in the past, I knew about the company’s streamlined and efficient processes when it comes to its back-office product offerings. We’re thrilled that we partnered with Confluence for our company launch and look forward to continuing to work with them as we deliver disruptive and cutting-edge solutions to asset managers.”
Unity NXT® Regulatory Reporting eases data management challenges and automates the filing processes for global regulatory reporting obligations. It is a flexible platform that delivers solutions to global reporting challenges in an ever-evolving regulatory landscape.
About Confluence
As a leading global technology solutions provider to the investment management industry, Confluence helps clients solve complex investment data challenges across the front, middle and back office. From innovative portfolio analytics to regulatory and financial reporting solutions, Confluence invests in the latest technology and data and in its team of industry experts to meet the evolving needs of asset managers and service providers. Headquartered in Pittsburgh, PA, Confluence services over 400 clients in 40 countries, with locations across Europe, North America, South Africa, Australia and Asia. For more information, visit www.confluence.com
