Broadridge Financial Solutions has launched ProActive, described as a significant evolution in its leading reconciliation and operational control solution, to enable the combined reconciliation of related cash and stock positions, together with all underlying transactions, in a single unified, optimised process.
It said that the introduction of the new capability enables firms to benefit from incremental levels of operational efficiency, while further mitigating their cost and risk exposure.
Traditionally, many financial organisations have based their reconciliations on separate matching processes for cash and stock, even when they relate to the same underlying transactions. While this approach has aided the operational efficiency for each process, it has been necessary to provide a separate link or manual check between the cash and stock in order to trace the impact of a failed match in one area upon the other. As a result, this causes exposure due to the time and effort required to track and resolve the issue.
Broadridge added that the new ProActive enhancement gives clients the choice of continuing with separate reconciliations for cash and stock, or adopting its new combined approach whereby cash and stock transactions are matched in a single operation which is linked to all related cash balances and stock positions. By adopting the new approach, firms will be able to identify the root cause of exceptions at greater speed, with a comprehensive, intuitive view of all linked components relating to both the cash and stock. This, in turn, minimises the risks associated with matching delays, such as funding, reporting or settlement-related exposures.
“Our commitment to continued, substantial R&D investments enables us to support firms seeking to gain tangible cost- and risk-related benefits through this innovative yet logical next step in the advancement of reconciliations and operational control,” said Robert Harris, product manager, Broadridge. “The inherent business-focused, flexible design of the ProActive solution enables us to incorporate and deliver this important market enhancement without requiring our clients to undergo a major disruptive change or work-around.”
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.