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Posted by: Annalize Seebacher
Category: News

Driving efficiency in the new normal by automating reconciliation

The New Normal has changed the way we work and live. It has tested the processes, systems and controls that financial institutions used for years, especially in the back-office. Manual processes are more of a hindrance than ever before.

 

One back-office function that is highly critical but often very manual is reconciliation. Many financial institutions had to conduct their quarter-end close activities ̶̶ including reconciliation ̶̶ in a remote setting for the first time. While manual reconciliation processes conducted in an office are already highly susceptible to errors and inefficiencies, these activities in a remote setting can lead to irreversible mistakes and weaken the internal controls structure.

 

Join our webinar, where we’ll discuss:

The current market trends in reconciliation

Why many financial institutions are digitally transforming their back office functions with a focus on reconciliation

The need for automation “now”

How you can generate efficiencies in the short term and plan for future growth by automating reconciliation