Confluence, a specialist in investment data management automation, has opened an office in Ireland.
Regulatory challenges such as AIFMD have meant that fund managers are increasingly looking to data automation to help manage their investments.
Located in Dublin’s popular Silicon Docks district, the new operation extends Confluence’s European presence beyond London and Luxembourg, where the company has serviced the European asset management industry since 2006.
Despite the increase in regulation, many fund managers still rely on manual spreadsheets to track investments that make up a multi-trillion dollar industry. Confluence has been working to create a smooth, automated process which saves time and improves accuracy.
Skip Smith, chief operating officer of Confluence, says: "The global fund industry’s appetite for data consolidation and automation solutions is increasing. The Dublin office is part of our strategic plan to meet the rising needs of back office professionals. Our goal is to support asset managers and service providers as they look to solve the complex data management challenges associated with regulatory issues, and other cross-border reporting challenges.
“Ireland is a financial gateway to the global funds industry and it was a natural next step for our business to open an office in one of the international fund jurisdictions. The Irish funds industry supports an innovative business environment within a renowned regulatory landscape and Ireland’s status as an international hub for the funds industry is deserved.”
Confluence provides data consolidation and automation solutions to more than 40 per cent of global investment managers. Ireland hosts over 40 per cent of global alternative investment industry fund assets and an infrastructure that provides distribution and domicile services to over 12,000 funds.