Daily unit price reconciliations
This case study focuses on a large life insurer company that used SolveXia’s automated processes to solve its daily unit price reconciliations.
Client: Large life insurer with over 3.5m policy holders and around 1,500 staff.
Problem: Need to reconcile unit prices reported by their custodian against the general ledger each morning.
Solution: Automated daily reconciliation to collect and validate files from custodian, perform transformations and mapping and then compare NAV, units and price for each fund to an extract from the general ledger.
- Automation deployed in 1 month
- 30+ steps in the automated process
- Reconciliation of over 60 funds using data from 5 source files
- Process completes in around 2 minutes (compared to 1 hour+ for manual process)
- Aggregate time savings of 2+ days each month