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Ask most financial institutions about onboarding new reconciliations and the response you’ll get is one big manual headache. Luckily the status quo with lengthy delays and manual processing issues is undergoing a shakeup. A recent benchmark survey with Aite Group reviews the existing onboarding challenges and highlights room for improvement.

Onboarding a new reconciliation has a complex lifecycle. Typically, it will include defining business needs and technical requirements, design, configuration

The reliance on staff to deal with manual reconciliations and multiple systems is about to reach its tipping point. With headcount reduction and cost cutting, firms are under increasing pressure to automate their reconciliation processes. This combined with key-person risk where recs processes are known to an individual or a small contingent leads to a significant source of operational risk.  In the second part of the series from the Aite Group benchmark survey, these challenges are put under th

There’s no denying the hard work that goes into the comprehensive automation, consolidation and streamlining of reconciliation solutions. But once the resulting efficiencies have been obtained by an institution, is the job done? Well, not quite.

For banks, efficiency certainly has the potential to be the gift that keeps on giving, helping reduce operational costs and risk on a long-term basis. Its continuance, however, relies on ongoing commitment. In fact, leave any automated process to its own