AutoRek wins Bank of England’s tender for reconciliation tech
The Bank of England selected AutoRek’s automated reconciliation and data management solution, to be implemented in two phases across finance and operations. The new tech will provide a centralised platform for the bank’s daily and monthly reconciliation tasks.
The contract was awarded following a competitive tender, according to the vendor.
“It is a testament to the whole AutoRek team that we have been able to successfully engage with an institution such as the Bank of England,” says Gordon McHarg, managing director at the regtech firm. “I look forward to AutoRek delivering value and efficiencies for the bank as we move into the implementation phase.”
UK-based AutoRek has been in business for 25 years working with asset/investment managers, banks and insurance firms. Its HQ is in Glasgow with offices in Edinburgh, London and New York, and it employs 65 people who specialise in financial data management and regulatory reporting.