Finologee has partnered with Gresham to integrate the Control platform into its Banking Orchestrator, with a focus on depositary reconciliation for financial institutions.
The integration is aimed at insurance companies, central administrators, asset servicers and fund managers that receive reporting data from multiple custodian banks in different formats and on varying schedules.
The combined offering is designed to automate the ingestion and validation of custodian reporting data, then route it through reconciliation and exception-management workflows and into clients' back-office systems.
The system is intended to process a range of file and message types, including SWIFT messages, ISO 20022 files, CSV extracts and Excel reports. It also applies mapping rules for each depositary, allowing differences in format, structure and content to be handled through configuration rather than manual intervention.
Depositary reconciliation remains labour-intensive across parts of the insurance and asset servicing market, particularly where firms oversee assets held with several custodians. Operations teams often rely on spreadsheets and legacy tools to validate incoming data, resolve exceptions and maintain records for audit and oversight purposes.
This can create operational risk when exceptions take longer to resolve or when audit trails are incomplete. It also adds pressure on firms that must show boards, depositaries and regulators that controls over positions and cash flows are working as intended.
Operational focus
Under the partnership, the Control platform will be integrated into Finologee's Banking Orchestrator, previously known as LYNKS. The arrangement is intended to provide an end-to-end process for handling depositary data across multiple custodians.
Gresham's software is designed to provide operations and oversight teams with dashboards that show the status of positions and cash flows across counterparties. It is also intended to automatically flag exception conditions and record the steps taken during the investigation and resolution.
The emphasis on traceability reflects the demands facing insurers, fund managers and administrators as transaction volumes rise and reporting standards become more varied. In multi-custodian environments, even routine reconciliation work can be hard to scale when firms receive data in inconsistent formats and must feed it into internal systems on time.
"Banking Orchestrator was built on the principle that financial institutions should have full control over how they connect to and interact with their banking counterparts. Partnering with Gresham extends that principle into the data itself: giving our clients not just connectivity, but the confidence that every position and every cash flow is validated, reconciled and fully traceable," Jonathan Prince, CSO & Co-Founder, Finologee, said.
Market pressure
The companies are targeting a part of the market where firms are under pressure to improve oversight without committing to extensive in-house development. Reconciliation processes often sit between external reporting from custodians and internal accounting or administration systems, making them central to both daily operations and supervisory review.
For fund managers and asset servicers, the challenge is not only receiving files, but standardising and validating them before they are used internally. Differences in naming conventions, file layouts and reporting content can create exceptions that consume staff time unless there is a structured way to identify and resolve them.
Finologee has built its business around bank connectivity and financial data orchestration, while Gresham is known for transaction control and data integrity tools used in financial services. The partnership brings those areas together in a product aimed at firms that need tighter control over depositary reporting across fragmented banking relationships.
"Insurance, fund administration, and asset servicing face growing volumes, complex asset classes, and increasing regulatory scrutiny. Manual processes and legacy systems can no longer keep up. Finologee's Banking Orchestrator already sets a new standard in Luxembourg, and integrating it with our Control platform creates a fully automated, end-to-end reconciliation workflow that provides strong governance and confidence in the data being used in mission critical processes. Clients can now manage multi-custodian data with high levels of automation, speed, and full traceability," Mark Hepsworth, CEO, Gresham, said.