Reconciliation is one of the most critical processes for any financial institution. As the number of transactions and regulatory requirements quickly increase, firms must continue to maintain their operational efficiency and mitigate risk. Whether it’s integrating data from different source systems into a central data warehouse or balancing the books, reconciliation remains complex.
Traditional reconciliation involves matching, comparing, and contrasting pairs of records. This process is time-consuming and laborious especially for complex workflows. Firms often have to load their data multiple times, with little to no support for streaming data sources.
The platform supports diverse batch and streaming data sources without pre-processing, regardless of the number of data sources or rules. It processes millions of checks with complex rules in runtimes of mere minutes at a cloud-scale.
Cuneiform Reconciliation supports multi-lateral matching that is fast and efficient to handle multiple workflows involving a large number of datasets and complex rules. Data is loaded just once, and results are automatically collated to generate a consolidated list of exceptions for the entire workflow.
The solution provides real-time Business Workflow Lineage™, with traceability and auditability of source data. This E2E data quality offers efficient and timely standardization and harmonization of data, leading to more accurate insights and confident decisions.
With continuous data quality monitoring across internal and external datasets, firms can quickly identify, address, and resolve exceptions quickly and efficiently to eliminate manual processes.
Cuneiform Reconciliation automatically calculates a score and prioritizes each data quality error, in addition to the total business impact of data quality issues across the entire workflow.
Firms can easily use the platform’s self-serve, drag-and-drop interface to dynamically create, configure, and execute reconciliation rules without significant coding knowledge. This allows for reduced cost and faster time-to-market for new controls.
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Getting started is easy. Begin with one workflow and learn as you grow. With our platform you can scale quickly.
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Cuneiform is cloud-native so deployment is fast and easy. You can realize platform benefits in days and get to your ROI much faster.
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Forget about upfront costs for good! No hardware requirements, no complicated cost calculations. Pay per seat and select the right tier that fits your business.
Danny Green, Head of Post-Trade Processing, Broadridge International
Data is one of the most valuable assets a financial institution can have; however, its existence alone does not guarantee success. Data is only as valuable as the business processes, decisions, and interactions it enables.