6lock Joins BluWave as Verified Money Movement Platform

6lock, a platform designed specifically for private equity firms, has joined BluWave's network as the network's sole Verified Money Movement™ platform. This move marks a significant step for both 6lock and BluWave, providing a secure and identity-verified transaction platform for more than 500 private equity firms and thousands of their portfolio companies.

BluWave, which connects private equity firms and portfolio companies with vetted third-party service providers, has long been committed to enhancing the efficiency and security of financial transactions within the private markets. The addition of 6lock to its network is a testament to its ongoing efforts to improve the transactional processes that have historically relied on email, spreadsheets, and callback methods.

According to Todd Sorrel, Co-founder and CEO of 6lock, "Private equity firms have long accepted email, phone calls, and spreadsheets as the norm for moving money. Joining BluWave as the network's only Verified Money Movement™ platform gives firms a direct path to replace those manual controls with a system that verifies identities, banking instructions, and approvals before any money moves."

The 6lock platform offers a closed-loop transaction layer for capital calls, distributions, deals, and vendor payments. It guides users through a straightforward four-step process: invite, verify, fund, and reconcile. This system keeps sensitive banking details out of email, provides real-time transaction visibility, and maintains an auditable record from invitation through settlement. By integrating 6lock, private equity firms and their portfolio companies can benefit from enhanced security and transparency in their financial transactions.

"Our platform enables identity-verified, secure, and real-time execution of capital calls, distributions, deals, and vendor payments. We are SOC 2 Type II compliant, ensuring that our system meets the highest standards of security and reliability."

The partnership between 6lock and BluWave is expected to streamline the transactional processes for private equity firms, reducing the risk of fraud and human error. With the network's evaluation covering direct private equity experience, client references, capability fit, and project history, 6lock has been rigorously vetted to ensure it meets the stringent requirements of the private equity market.

For private equity firms, fund administrators, and portfolio companies, the integration of 6lock into the BluWave network represents a significant advancement in the way financial transactions are handled. By leveraging 6lock's Verified Money Movement™ platform, these firms can now operate with greater confidence and security, knowing that their transactions are protected by a robust and identity-verified system.

As 6lock continues to expand its presence within the private equity market, the partnership with BluWave is poised to drive further innovation and improvement in the sector. With a focus on security and efficiency, 6lock is well-positioned to become a leading player in the Verified Money Movement™ space, providing a much-needed solution to the longstanding challenges faced by private equity firms.