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
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.
