The agreement between the firms enables Ocorian clients to plug into Canoe's AI and machine learning capabilities which are used to automate document collection and data extraction from a variety of sources.

Ocorian, a specialist global provider of fund administration, capital markets, corporate, fiduciary and regulatory services, has announced that it is working with Canoe Intelligence, a financial technology company in the alternatives industry.

The pact is designed to streamline and enhance data management for fund managers. Ocorian said its fund services' clients will benefit from Canoe’s AI and machine learning technology, which automates document collection, data extraction, validation, cloud reporting and increases speed, accuracy and reliability.

Canoe services more than 400 global clients, including banks, capital allocators, wealth managers, family offices, and asset servicing firms. In total, it supports more than $8 trillion in assets under management/administration across 44,000-plus funds. 

Besides its US base, in 2023 Canoe expanded its international business by opening a London office.