At FundApps we believe clients shouldn't have to learn yet another rule language or bring in expensive consultants to update or write new rules. That's why we don't just write software at FundApps, we provide the rule content too. Our rule team are constantly updating the rules in our Rapptr compliance engine to reflect the latest legislative changes, along with any bespoke rules our clients need.
When our rule team write a new rule, we also write specifications of how we expect the rule to behave on a set of sample portfolios. If we receive updates from our legal partner or regulators, we can update our rules - and then verify our expectations on what assets cause breaches or warnings.
Here's an example of some of our tests for the 5/40 UCITS rule in Ireland, on two test portfolios we have defined.
Our suite of tests is growing all the time. These are run automatically against our test portfolios with every change to our system - so that we know not only that it works perfectly now, but will continue to work as expected for every future release.
How confident are you that your rules still run correctly after a software update from your vendor?