Banking

Reconciliation Of Wholesale Banking Transactions

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Client

Multinational bank with 30k+ employees and over seven million customers

Problem

Need to perform complex, product-specific reconciliations to support capital adequacy attestations to the regulator

Solution

Automated reconciliation of over 500k transactions each month with results generated 2-4 days earlier and a saving of 1.5 FTE

This case study focuses on a multinational bank which used SolveXia's automated processes to fix its reconciliation of wholesale banking transactions problem.

Key metrics:

  • Automation deployed in 3 months
  • 250 steps in the automated process
  • Dashboard view to drill into results
  • Over 3 passes through the process each month to provide time to address reported reconciliation issues
  • Over 500,000 transactions reconciled each month
  • Data extracted and transformed from over 50 source files
  • 2-4 days of time savings
  • 1.5 FTE of overall manual effort savings

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