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Intercompany trade reconciliation

A European Banking Client required an urgent solution to its intercompany reconciliation process that dealt with 1.5 mm trades per month in 70+ systems

The existing process…

The existing intercompany reconciliation process was a combination of automated reconciliations and manual intervention which was slow, costly and unreliable.

Manual processes had to be used on over a third of the trades. In addition, the existing automated process was both opaque and inflexible.

It also had an audit point.

Enhancing the reconciliation

An intelligent reconciliation where the business rules are built as modular blocks, allows the process to be layered in a clear manner.

The matching engine is transparent to users showing the ‘best match’ as well as the matching confidence.

Flexible and transparent analytics matching engine created to replace the client’s existing processes.

Outcomes

Audit point resolved.

Match rate improved, match accuracy improved.

Transparency and visibility over the match logic used to derive a given matched pair, increasing ease of audit and error tracing.

Operational risk deficiencies resolved by significantly reducing manual processes.

Reduced sensitivity to input data.

Simpler and more intuitive application.

Execution time improved by a factor of five: a a key audit point requirement.

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