KOGER Introduces Risk-Based Compliance for Its KURE Software
NEW YORK, May 1, 2017 /PRNewswire/ -- KOGER® Inc., leading financial services technology company, has enhanced its KURE software with new functionality focused specifically on the management of risk-based compliance, in direct response to increased due diligence and anti-money laundering (AML) and know your client (KYC) procedures around the world. KURE is a module for KOGER's flagship NTAS® platform for fund administration and compliance, which supports more than 8,000 funds with $2 trillion in assets. It also works as a standalone product.
KURE, which stands for KOGER's Universal Regulatory Engine, provides risk-based global regulatory compliance, with investor tracking, classifying and reporting to adhere to anti-tax evasion legislation and anti-money laundering regulations. These include the Foreign Account Tax and Compliance Act (FACTA), Common Reporting Standards, and the "know your client" requirements of the European Union's Anti-Laundering Directive IV (AMLD IV), along with the laws of the U.S. Department of Treasury Financial Crimes Enforcement Network (FinCEN).
KURE also produces the specific XML data formatting required by the regulatory agencies in the U.S. and internationally for anti-tax evasion legislation.
"In the past few years, risk-based compliance has become increasingly complex with new regulations directed toward national and international security and counter-terrorism. The various risk criteria differ from country to country and jurisdiction to jurisdiction, based on local laws and transparency. KURE streamlines the entire process of investor tracking and reporting for fund managers and administrators," said Ras Sipko, KOGER Chief Operating Officer.
KURE is part of the product suite for the company's NTAS platform, a share registry system that manages fund tracking, reporting and fee calculation. NTAS handles daily transfer agency recordkeeping, investor registration, cash management, trade processing, compliance, reporting and fee processing. The platform is used by many of the largest funds, fund administrators and financial institutions. The NTAS platform and its complementary products support all types of investment funds, including hedge funds, private equity, mutual funds, money market funds and pension funds.
All of KOGER's products are designed to work together seamlessly on one comprehensive platform. Developed originally for hedge funds and alternative investments, the NTAS platform now serves the entirety of the investment industry, making complex processes easy to manage. For example, the system can produce approximately 300 different reports.
"We were founded in 1994 and have been working with fund administrators, asset managers and financial institutions for more than 20 years. We have one platform that doesn't require any effort from clients to use its complete functionality. All we need to do is turn on a different module depending on what clients need," Sipko said.
About KOGER
Founded in 1994, KOGER® is the provider of NTAS®, the market's leading platform for investment fund administration and compliance. More than 8,000 funds with $2 trillion in assets are administered through NTAS, which is used by the world's largest funds, fund administrators and blue-chip financial institutions. The NTAS platform encompasses a comprehensive suite of products for the investment industry, including hedge funds, private equity funds, mutual funds and pension funds. KOGER's NTAS platform provides fund administrators and financial institutions with an integrated, scalable solution that increases efficiencies and reduces costs, and can be customized to financial organizations of all sizes. KOGER is a global financial services technology company with offices in the US, UK, Europe, Asia and Australia.
SOURCE KOGER
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