Using Allevo real-time reconciliation solution, BCR reduces costs and increases operational control
For the past 5 years Allevo has successfully developed, implemented
and improved in BCR, an important member of ERSTE Bank Group,
ReconS, a
qPayIntegrator
feature designed for matching and providing automated NOSTRO and
VOSTRO accounts reconciliation.
ReconS embeds a rich set of reporting templates (including
intraday liquidity reports) for a thorough operations control and
provides exceptions management support. ReconS reconciles NOSTRO
SWIFT statements with the general ledger (GL) items and provides
matching functionality depending on the percentage of the satisfied
criteria.
High-quality matches can be confirmed automatically by ReconS,
while for the others, the account reconciliation officer is
provided with a resolution path to find the underlying reason,
enabling them to take accurate decisions.
Allevo solution helps BCR reduce exposure to risks and gain
visibility of their operations through reconciliation, while
increasing productivity and taking full control over the core of
their financial processes.
The solution also contributes to the achievement of an effective
risk management and compliance controls through automation of
accounts' reconciliation processes.
"Using Allevo ReconS extension and teaming with Allevo
professionals enabled us to provide our customers the confidence
that we effectively control our operations. The reconciliation
feature assisted our teams to build stronger operational control in
a cost effective manner and fulfilled our business needs",
states Mariana Popovici, BCR Shared Service Division Executive
Director.
"We know from experience that efficient reconciliation
processes are critical to delivering effective and truly
client-centric operations, leading to a wider coverage of the
bank's targeted market" says Sorin Guiman, CEO Allevo.