Confluence Technologies, Inc., a U.S.-based fintech focused on the investment management industry, has been selected by Paralel Technologies, a start-up fintech firm, for its core back-office services. The multi-year deal includes the use of Confluence’s regulatory reporting, performance, and financial reporting products. Paralel began operations in late 2021. Using Confluence’s Unity NXT Regulatory Reporting solution, Paralel aims to streamline its processes and reduce risk in a controlled system that facilitates collaboration, review and standardisation. Paralel is also using Confluence’s Unity Financial Reporting product to produce cover-to-cover annual reports and Unity Performance to produce daily fund performance reports for its clients.
