NEW YORK, Nov. 6, 2019 /PRNewswire/ -- FundGuard, a provider of a SaaS investment funds operating system powered by artificial intelligence (AI), today announced the availability of its Contingency and Oversight NAV (Net Asset Value) product following a testing period with several large banks and asset managers.
FundGuard's next generation platform allows asset managers and fund administrators to reimagine product offerings into digital experiences with real-time transparency, utterly changing operations and technology efficiencies. FundGuard leverages modern cloud technologies and applies AI to identify anomalies, auto resolve exceptions, and suggest operations improvements to transform an underserved industry that has been limited by archaic, primarily on-premise, batch-based and non-scalable legacy technology.
"We're thrilled that after a successful testing period with major banks, our Contingency and Oversight NAV product is ready for market. Our machine learning powered onboarding process allows us to get new customers up and running super-fast which is critical for quick evaluation and elimination of conversion friction costs," said Lior Yogev, CEO and Co-Founder, FundGuard. "With short development cycles, fully automated testing, and continuous deployment, we are able to quickly respond to new regulatory and business requirements, freeing up our customers to focus on their core business."
FundGuard is backed by venture firms Blumberg Capital and LionBird, joined by an all-star team of banking and securities services executives. These include the following advisors as well as several other distinguished investors:
- Heidi Miller, an HSBC non-executive director and former President of JP Morgan International;
- Jay Mandelbaum, former Head of Strategy at JP Morgan Chase, and member of both JP Morgan Chase's and Citigroup's management committees;
- Avi Nachmany, Co-Founder and former Director of Research at Strategic Insight; and
- David Krell, Founder and former CEO of the International Securities Exchange.
"No-touch NAV and radically cost-efficient scalability that grows and shrinks as needed are just some of the substantial value-adds," said Heidi Miller. "Investors and asset managers have long had to endure outdated technology that made them inefficient, slow to move, and vulnerable to outages and cyberattacks. Now, they have a fresh digital engagement and collaborative solution to address their needs."
"The general lack of innovation and continued reliance on legacy administration systems is astonishing," said Jay Mandelbaum. "Using artificial intelligence to detect potential fraud and financial anomalies and to protect and analyze underlying data is critical given the complexity of the asset management today. FundGuard's transparent, intuitive, and independent platform achieves this while eliminating potential downtime and risk of errors."
FundGuard is a true-SaaS cloud-based investment funds platform powered by AI. The platform transforms investment operations which today are using antiquated technologies created decades ago, while helping asset managers, banks and fund administrators manage investments, identify unstructured financial and operational anomalies, as well as automatically resolve exceptions, streamlining investment operations. FundGuard's native cloud technologies make it far more intuitive, and easier to support new business needs and regulations. For more information, visit fundguard.com.