Date: 01 December 2016
Watson Wheatley Financial Systems (WWFS) are pleased to announce the implementation of the iRecs reconciliation solution at online peer-to-peer SME business loan specialists ThinCats. This new deal for WWFS marks the first time the iRecs platform has been used in a peer-to-peer lending environment and adds value to the operational control processes already established at ThinCats.
Guy Whitaker, Client Money Operations Manager at ThinCats:
“iRecs has become integral to our day-to-day operations and reporting of Client Money. As ThinCats continues to grow, the automation that iRecs provides ensures we have the capability to deal with significant increases in volumes, protect our clients’ money appropriately and meet our FCA CASS regulatory obligations.”
“The WWFS support team have proved to be extremely helpful and rapid with resolving any queries or issues.”
Tom Wheatley, COO at Watson Wheatley Financial Systems:
“Our flexible data aggregation and reconciliation tool as well as the hosted offering made the iRecs platform an attractive proposition for the ThinCats team”
“We see peer-to-peer lending as a new source of business and we look forward to configuring iRecs to meet and exceed both reconciliation and regulatory requirements.”
ThinCats is one of Europe’s largest peer-to-peer platform specialising in secured SME business loans between £250k to £5m with a term of 6 months to 5 years. Founded in 2010, ThinCats mission is to provide loans to UK SME businesses efficiently and at competitive rates whilst providing attractive returns to investors. To date, ThinCats has provided more than £205m in loan capital. (Source: ThinCats website, November 2016). ThinCats is a trading name of Business Loan Network Limited, authorised and regulated by the Financial Conduct Authority (No. 660050). Business Loan Network Limited is not covered by the Financial Services Compensation Scheme. Capital is at risk.
For further information please visit: http://www.thincats.com/
ABOUT WATSON WHEATLEY FINANCIAL SYSTEMS Watson Wheatley Financial Systems is a reconciliation system vendor with worldwide clients including hedge funds, long only asset managers and commodities traders. Its principal products are the iRecs reconciliation platform and Importer data aggregation software. iRecs is an extremely versatile and powerful reconciliation solution, used by clients with over $160bn in assets under administration. iRecs has been selected as the ‘Best Technology Vendor’ and ‘Best Reconciliation and Data Aggregation Software – UK’ at the 2016 Hedge Fund Awards.
For further information please visit: http://www.watsonwheatley.com/
Tom has a background in investment operations working for both Bank of New York and Cazenove Capital Management. He previously had a career in motorsport as a driver, instructor and operations manager both in the UK and North America. Tom is studying for an Executive MBA at Oxford Unversity's Saïd Business School.