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Intercompany Trade Reconciliation

Ensuring

Razor-sharp

Accuracy

Data analytics plays a critical role in strengthening the organisation’s control infrastructure.

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.

Industry: Banking

Challenges

Multiple Systems

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

Unreliable

Manual processes had to be used on over a third of the trades.

Unresponsive

In addition, the existing automated process was both opaque and inflexible.

Audit & Operational Risk

The existing intercompany reconciliation process also had an audit point.

Data Solution

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

Matching Integrity

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

Superior Data

A highly flexible and transparent analytics matching engine was created to replace the client’s existing processes.
Benefits

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

A multi-day process reduced to a few hours.

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.
Removed an Internal Audit point.

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