Business News

Praemium feeds added to Simple Fund 360

BGL Corporate Solutions has announced the release of a new automated data feed with managed account provider Praemium, available on its Simple Fund 360 SMSF software.

The data feed uses BGL’s SmartPost II technology to automatically allocate amounts to ledger accounts.

“SmartPost is revolutionary – we have been using and enhancing it for almost five years,” BGL managing director Ron Lesh said today.

“This technology automatically allocates the vast majority of transactions from the bank data service and completes all transactions from brokers, wraps and platforms pretty well.”

BGL released the Praemium data feed to a number of clients in late 2017 and has worked to ensure it operates as its clients expected.

Lesh said the results so far validated the work both businesses have put into the data quality.

“My team continues to add more data feeds each month,” he said.

“Over the past 12 months we have added numerous bank, broker, wrap and platform data feeds, bringing the total number to an industry leading 200-plus integrations.”

He revealed BGL has been working on its new artificial intelligence (AI) posting engine with clients with the aim of achieving the first implementation of the technology over the next couple of months.

“BGL sees the future of transaction matching to be a task for AI with machine learning,” Lesh said.

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