Ambit System to System Reconciliation
System to system reconciliations provides your institution with the ability to validate data that is found in multiple disparate systems. In order to perform this intra-system validation, a solution must be flexible to handle the different formats and data feeds, must be able to handle large volumes and be able to provide the disparate systems with a matching status. To further reduce operational risk, the reconciliation tool must also be able to provide your institution with a centralized view and visibility.
There are manual processes and programs that perform reconciliation function. However, these processes and tools cannot handle the growth in transactional volumes and exceptions. To lower operational cost and operational risk, banks should centralize the reconciliation function and create a center of excellence. By automating processes and providing tighter controls, cost savings can be seen by identifying exceptions earlier in its lifecycle and reallocating staff to focus on exceptions and other profitable activities.
SunGard can help. SunGard’s Ambit System to System Reconciliation provides highly scalable, real-time matching and reconciliation across the enterprise, supports hubbed or centralized operations models, as well as single line of business processing. Transactions and data, regardless of source, are processed in real-time on a single platform; including cash, securities, confirmations, energy trades, and system messages, for complete transaction lifecycle management.
Features
- Allows System to System reconciliation—front-to-back office systems, trade notifications, third-party messages and central clearing party messages
- Allows matching and reconciliation of other transaction types—Commodities and energy, ATM transactions and insurance applications
- Provides a centralized reconciliation solution
- Integrated investigations and case management
- Provides a real-time, active monitoring and reporting dashboard
Benefits
- Allows generic matching on a single platform
- Setting up and adding new data sources and reconciliations is easy. Both pro posed and generic matching rules are defined by the user, enabling matching on ALL fields.
- Identify, assess, and control exceptions raised by the matching and reconciliation process for efficient workflows
- Provides consolidated, actionable views across business lines and geographies
- Users are alerted via e-mail or pager, in real-time, to system-defined events that require immediate attention