Just Released - Multiple Bank Accounts Per Investing Entity

At Caruso, we constantly ship new features to help fund managers delight their investors, build stronger capital relationships, improve operating efficiency, and reduce risk.

With that in mind, below is a quick overview of our latest features and improvements...

Managing multiple bank accounts

Caruso's latest update enhances bank account management for both fund managers using the admin app and investors via the investor portal. Now, users can add and manage multiple bank accounts in various currencies (AUD, NZD, GBP, EUR, USD), assign nicknames for easy identification, and effortlessly upload verification documents.

When an investor adds a new bank account, fund managers are promptly notified in the admin app for quick verification of the account and supporting documents, which are stored for future reference. In cases where a bank account needs to be rejected, fund managers can communicate the reason to investors and prompt them for resubmission, thereby streamlining compliance processes.

This update also brings flexibility in distributing returns, allowing both fund managers and investors to designate different bank accounts for each holding in an investor’s portfolio.

For compliance, we've enhanced the system to alert fund managers about unverified bank accounts or recent changes before confirming distributions. This allows fund managers to view the investor’s record and take necessary actions, ensuring smoother and more secure transactions.

Also new…

• A new holdings tab against investing entities lets fund managers quickly understand the investor’s portfolio and cost basis. In the future, this will be extended to support capital calling by surfacing how much investors may have committed, compared to how much was actually contributed to a fund.

If you want to see some of these features for yourself, simply email [email protected] and we can organise a product demonstration.