Just Released - Checklists with AI Agents

Today we’re releasing Checklists in Caruso, built for your fund administration team and our AI agents to run fund operations together, faster and more accurately.

A checklist is a control all good fund administrators apply to each workflow. Teams follow set steps for every application, distribution and redemption, and a second person signs each one off. Almost all of it is still done by hand, in spreadsheets.

With checklists in Caruso, agents take the routine checks off your team, leaving only the calls that need human judgement.

Checklists built in

Checklists now sit on the record they check, across thirteen record types, from a single application to a whole distribution batch. Admins build each template once, with written instructions for every step, and those instructions guide your team and your AI agents alike.

• Thirteen record types: Checklists attach to applications, redemption and transfer orders, investing entities, contacts, funds and every batch type, including distribution and statement batches.
• Instructions on every step: Each item sets out the control point, the evidence that proves it and how to complete it, so every checklist is worked the same way, by a person or an agent.
• Maker and checker, kept apart: Contributors complete the items, and a separate reviewer approves the checklist or declines it with a comment. The reviewer cannot tick items themselves.
• Versioned templates: Templates are versioned, so each checklist shows exactly which version it followed.

Every completed item, reason and review decision is kept in the audit log, so when an auditor asks how a distribution was checked, the answer is already on the record.

AI agents do the first pass

Working a checklist has meant opening record after record to confirm what the data already shows. AI agents can now take that on.

Set a Background Agent to pick up a checklist when it is added to a record, and it works through every check it can confirm from data in Caruso. For an application, that means checks such as a completed identity verification, a verified bank account, a current wholesale certificate and the minimum investment met. Your team opens a checklist with the routine checks done and only the judgement calls left.

Your team can also work checklists with the Fund Admin Agent: ask which checklists are still outstanding, what is left on one, or have it tick an item, with your approval before anything changes.

• No more manual cross-checking: The agent checks each item against the investor's details in Caruso and ticks everything the data confirms, such as a completed identity verification or a verified bank account.
• Every tick on the record: Each item is recorded against whoever completed it, agent or person, in the same audit log.
• Nothing skipped without a reason: An item can only be marked not applicable with a reason, so every gap is explained.
• Only people sign off: A separate reviewer approves the checklist or declines it with a comment. Sign off is always a person's decision.

The checks don't change. What changes is who does the repetitive part: the first pass is done before anyone on the team opens the record, and your team's time goes on the gaps, the exceptions and the sign off.

This is one of the biggest steps we have taken towards taking the admin out of fund administration, and what AI-native fund administration looks like in practice. Checklists are available now. To set up your first checklists and agents, or to see how they would work across your funds, talk to our team.