LONDON and NEW YORK, October 24, 2014 /PRNewswire/ --
FundApps, a provider of online compliance services, today announced the signing of three new clients to Rapptr, a unique cloud-based service developed for financial organisations to monitor disclosure requirements including short-selling, major shareholdings and takeover panel.
These new clients, which include a US-based asset manager, a US pension fund, and a London-based hedge fund, selected Rapptr after reviewing the market and ruling out other compliance solutions.
"As a web-based service, Rapptr is perfect for disclosure management," comments Andrew White, FundApps CEO. "With frequently changing regulation and daily market data requirements, installed software simply isn't up to the job. Rapptr is updated with regulatory content every few hours; users know that disclosure checks always reflect the latest regulatory demands." states White.
And it's not just timely delivery of regulatory data that makes the difference. White believes that the cloud creates a new online compliance community, separating Rapptr from less sophisticated alternatives: "Our rapid growth has created a new industry standard for shareholding disclosure" comments White. "The dynamic nature of our service underpins a participatory community where regulatory rules are actively approved by each client. Unlike installed or in-house solutions, clients are not left in isolation when interpreting legislation, or left waiting days or weeks for a crucial software update" argues White.
With strong inbound interest set to increase client growth beyond the 300% rate seen to date in 2014, White believes FundApps is well positioned to capitalise on this ongoing success: "The velocity of regulatory change is increasing, clients are actively seeking service providers with the agility and expertise to keep pace with the changing environment. This is why we're seeing the largest investment firms contacting us directly and making purchase decisions within a matter of days."
FundApps are proven innovators in financial compliance. The first service provider to license legal information provided by Derivative Services LLP (an affiliate of Allen & Overy), FundApps combines bleeding-edge functionality with an expert team of compliance specialists dedicated to distilling regulatory information into code-based compliance checks. Rapptr is currently used by some of the world's largest financial institutions for shareholding disclosure and investment restriction monitoring. More information at http://www.fundapps.co
For more information please contact Jonathan Bradshaw: +44-203-286-6978