Broadridge has launched BRx Match, a cloud-based reconciliation platform.
The platform automates the entire reconciliation process from the earliest point, helping to improve efficiency, transparency and accuracy, while reducing risk and total cost of ownership.
Alastair McGill, general manager of data control solutions, Broadridge, said: “As global regulatory requirements become more complex and increasing transaction volumes demand greater operational efficiency and risk management, BRx Match allows financial and corporate clients to automate the reconciliation of any data sources and expedite the exception management process.
“With business-user self-build capabilities, the platform accelerates the onboarding of new reconciliations, thereby reducing total cost of ownership and creating a more responsive operation.”
Dayle Scher, research principal at Celent, a research and advisory firm, said: “Volumes of transactions are growing across every asset class and causing an explosion in both structured and unstructured data that require fast processing and the ability to reconcile discrepancies in datasets quickly.
“Firms across the capital markets, asset and wealth managers and corporates are examining ways to streamline and consolidate their fragmented reconciliation processes and technology across asset classes, business lines, and geographical regions – for both simple and complex reconciliations – under a single platform, thereby reducing total cost of ownership. While the reconciliation function is the last line of operations risk mitigation, not having a holistic view of transactions or data exceptions actually increases risks to the enterprise.”
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