After years of expansion and success, Maples Fund Services needed to improve its fund reporting capabilities to support a growing roster of private equity funds and investors all over the world. “The trends around transparency are really about the LPs looking for better information and having it at their fingertips,” says Bob Wolfe, head of private equity solutions. “They’re looking to have detailed analysis they can do at any time to actually see where things are.”
Maples has a history of building proprietary technologies but wanted to roll out powerful new reporting tools quickly and in compliance with the regulations of various international jurisdictions. “We decided that to get to the next level, we needed to pick a best-of-breed technology to support what we were trying to do,” says Wolfe.
Working with Best-of-Breed Technology
After an exhaustive investigation, Maples chose to collaborate with market leader FIS and implement the award-winning Investran solution because, not only was it the best in the category, but it could also support the entire fund life cycle within a single platform.
Maples included Investran Data Exchange in its upgrade as well. “Data Exchange had 80 percent – out of the box – of the capabilities we thought we needed to provide to our LP and GP clients,” says Wolfe.
Laying the Cornerstone for Growth
Today, Maples Fund Services continues to make technology a strategic priority. Investran’s implementation has helped to improve the organization’s efficiency by integrating disparate functions, enhancing fund reporting and automating accounting. On the clients’ end, the ability to slice and dice fund performance data through Data Exchange has been extremely well received.
Maples continues to work with FIS to streamline its reporting and improve regulatory compliance. “We were also able to discuss things about certain jurisdictions – how do you play with certain regulatory requirements in terms of using Investran,” says Wolfe. “The research for that was very helpful for us.”