Reconciliation Systems: Solutions for Capital Markets Firms

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9 April 2024

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Traditionally, the reconciliations process and technology have been seen as a "back-office" problem and have not received sufficient investment. However, over the past decade, there has been a shift from manual spreadsheets to automated vendor offerings, with a focus on software-as-a-service models and outsourcing. The COVID-19 pandemic and its associated market volatility have further highlighted the inefficiencies in operations' processes and brought attention to the importance of the reconciliation process.

The increasing investment in complex securities, such as OTC derivatives, is driving the need for more sophisticated reconciliation tools. However, there is still a fragmented use of solutions for different asset types. The emergence of modern technologies is transforming the reconciliation process, with artificial intelligence, machine learning, and distributed ledger technology (DLT) poised to revolutionize the landscape. These advancements have the potential to enhance efficiency, accuracy, and transparency in the reconciliation process, leading to improved risk management and cost savings for financial institutions.

This report profiles many of the reconciliation systems available today. Expanded functionality and improved technology mean that capital markets firms continue to have a wide set of systems and vendors to consider when looking for a solution to fit their needs.

Additionally, Reconcilable Differences: A Primer and Revisiting Reconciliations in the Capital Markets are also available to give more basic information on both the reconciliation process and the solution providers covered in this report.

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