News Release - 9 September 2009
City Networks Launches Next Generation PROactive™ Reconciliation Solution
City Networks Ltd a leading global provider of integrated financial control solutions, announced today the release of PROactive™ Reconciliation v7, its next-generation reconciliation and exception management software.
Global regulatory requirements and increasing transaction volumes demand greater operational efficiency and management of risk. A major stumbling block for many financial organizations is leveraging the variety of transaction data held in disparate data silos to inform their risk management and operational decision making with inaccurate information potentially resulting in trading losses. PROactive™ Reconciliation v7 dramatically reduces this risk by automating the entire reconciliation process to monitor, validate, enrich and match transaction data from the earliest point of the trade cycle through to final settlement.
Solution highlights:
· Pre-configured industry-standard templates
· Completely configurable for all other types of reconciliation and transaction matching
· High volume throughput via multiple, simultaneous engines and load balancing
· Data enrichment on entry or at any time as new information becomes available
· Browser interface for all user and configuration functions, including personal
presentation preferences and screen layouts
· Advanced auto-matching rules with highlighting of mismatched fields
· No limitation on number of fields
· Integrated middleware that supports data acquisition from any
file format, spreadsheet or relational database
· Static data versioning and optional “4-eyes” control
· Shared or totally independent business units supported within a single installation
· Full multilingual support
“PROactive™ Reconciliation was developed in response to requests from our clients to extend our solution coverage beyond traditional areas and interface with any type of external platform or database. Until recent technology advances it was not possible to build a feature-rich browser interface that had performance to match.” said Marcus Dutton, Product Strategy at City Networks. “We have worked closely with our existing users who operate both centralised and outsourced models to ensure that the solution can be rolled out into other business areas to further standardise processes and reduce risk as well as achieving an even greater return on investment.”
