AutoRek

History and Founding

AutoRek was founded in 1994 in Glasgow, Scotland, by Gordon McHarg and a co-founder, initially operating as API Software Limited, a data management consultancy. The company's first major deployment was in 1998, handling privatisation and de-mutualisation reconciliation for stockbrokers, which exposed the inadequacy of manual processes. This led to the development of the AutoRek platform.

Platform and Products

The platform is built around a multi-purpose, rule-driven data management engine that automates the entire financial control lifecycle: data ingestion, validation, matching, exception management, workflow, and reporting. It is deployed in over 100 institutions across retail banking, asset management, payments, and insurance. Key capabilities include CASS compliance, MiFID II transaction reporting, balance sheet certification, high-volume data migration, and automated cash allocation.

Market Position and Growth

AutoRek holds an estimated 35% market share in UK retail banking and processes over 2.4 billion transactions annually. The company has grown from a small consultancy to a global player with offices in Scotland, England, and the United States. Backed by a growth equity investment from Scottish Equity Partners, it has tripled in size since 2020. Estimated annual recurring revenue in 2025 is $17.2 million.

Recent Developments and AI

In 2025, AutoRek launched AutoRek ARIA, an explainable AI agent framework designed to reduce manual intervention across financial operations. It also introduced RegToolKit for regulatory compliance mapping and AutoRek MION for crypto asset reconciliation. The company rebranded in 2023 to reflect its global expansion ambitions. AutoRek has been recognised with industry awards including WatersTechnology's Best Buy-Side Reconciliation Platform and FTF News Best Reconciliation Platform.

Technology and Partnerships

AutoRek is cloud-native and delivered as a SaaS platform. It holds Microsoft Solutions Partner Certified Software Designation for Financial Services AI. The platform integrates with major banking infrastructure including J.P. Morgan Payments. The company emphasises data integrity and audit-grade accuracy across all modules.

Leadership and Funding

CEO Chris Livesey succeeded founder Gordon McHarg, who remains involved as a founder. In July 2025, Tony Livesey joined as Chief Technology & Product Officer, while Jim Sadler transitioned from CTO to Chief Transformation Officer. AutoRek has raised $28.9 million in total funding, with a disclosed valuation of $51.5 million as of 2025.