Veres
Veres provides an AI-powered operations platform for fund administrators and transfer agents, automating year-round document drafting, chasing, and approval capture. The platform measures completeness against a defined process standard, ensuring audit evidence is captured at the point of creation. It runs entire workflows from the administrator's seat, integrating with Teams and email to keep all parties aligned.
- Artificial Intelligence
- Financial Technology
- Regulatory & Compliance Technology
- Software Only
Funding
Founders
Product
Problem
Fund administrators and transfer agents face a heavy operational burden during audit season, when they must manually reconstruct evidence from mailboxes and drives to assemble approximately 139 documents, approvals, and reconciliations. This process consumes roughly nine person-days of work, with 63% of that effort concentrated in the year-end close and 67% of it involving coordination with external parties like transfer agents, legal, and depositaries. The result is a scramble to chase missing items and prove compliance under tight deadlines.
Solution
Veres addresses this by running fund operations workflows continuously throughout the year, capturing every document and approval at the moment it is created. The platform starts by mapping the client's defined process—steps, owners, and approvals—and uses that as a denominator to measure completeness, not just presence. Work is timestamped, versioned, and attributed as it happens, so nothing is reassembled after the fact. Veres operates from the administrator's seat, coordinating across teams and external firms via Teams and email, and it flags missing items in real time. By keeping the record current all year, audit becomes a simple query rather than a reconstruction project, with a person signing off on every consequential approval.
Target Audience
Primary customers are fund administrators and transfer agents managing Luxembourg-domiciled funds, including SICAVs and ELTIFs, who need to streamline year-end reporting and regulatory compliance.
Features
- Process definition engine that codifies a fund's standard workflows (e.g., share-class launches, capital calls) into a measurable denominator
- Point-of-creation capture with timestamps, versioning, and attribution for every document and approval
- Real-time gap analysis showing what is missing (e.g., "041/139 items captured") with status and owner
- Human-in-the-loop approval routing, ensuring no item is marked complete without a designated sign-off
- Cross-party orchestration via Microsoft Teams for internal teams and email for external parties like transfer agents and depositaries
- Reference taxonomy grounded in Luxembourg UCI Part II, CSSF Circular 24/856, and SFDR periodic disclosure requirements