Reimagining Reconciliation: Improving Automation with Innovative Technology in Financial Services
During these uncertain times, fluctuating trading volumes, outdated systems and the disbandment of teams are creating the perfect storm for bottlenecks and errors in many businesses.
There is a growing need for firms to adopt modern automation technologies, implement faster reconciliation processes, use intelligent exception handling capabilities and deliver the ability for team members to operate more efficiently.
Furthermore, data integrity is paramount in dealing with economic and regulatory challenges. Enhanced operational efficiency, risk mitigation and data transparency are needed to tackle ever increasing data volumes and enhanced management scrutiny.
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During the session, we heard from both Arin Ray, Senior Analyst, Securities & Investments Practice at Celent and Marc McCarthy, SVP of International Sales at AutoRek. They discussed:
- The need for better data management and control in the digital era
- COVID-19 and its impact on data operations at financial institutions
- Complexities and challenges of managing data reconciliation
- How new technology can help improve costs and risks of reconciliation
- Reimagining reconciliation for the era of digital financial services