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Our client is a leading corporate and investment bank with a home market in Central and Eastern Europe. The bank’s subsidiaries service approximately 15 million customers in more than 2,500 business outlets in both the corporate and private customer segments, as well as in investment banking.
The challenge: centralizing control and security across subsidiaries
The client’s centralized shared-service center identified the need for a central point of control for reconciliations across Central and Eastern Europe. They needed to rapidly onboard a large number of subsidiaries onto one enterprise-wide solution that would safeguard the integrity and privacy of each region’s data. Some of the regional branches also had requirements to onboard the automation of ATM reconciliations, which wasn’t possible using their existing solution.
The client needed to reduce the cost and effort associated with onboarding new subsidiaries and provide them with secure access to reconciliations for their accounts, which would require transforming their reconciliations.
The solution: a global solution for regional challenges
We tapped into our Data Control Solutions, applying Fintech expertise, trusted advice and proven capabilities to enable the delivery of accurate, reconciled data to the client’s systems, processes and workflows across subsidiaries.
Grows with the business
The solution’s unrestricted nature permitted the client to configure further reconciliations without the need to install additional modules.
Users from different subsidiaries have taken advantage of entity-driven features to tailor screen layouts and attribute names appropriate their requirements, without impacting the experience for other divisions.
The client has introduced additional user roles to determine what actions each user can carry out. This is all possible through the user interface.
When looking across all entities, the client can benefit from being able to view standardized, enterprise-wide reports rather than unique bespoke reports per division.
The bank benefits from enhanced security controls, with the application deployed using SSL certificate binding and SOX-compliant user credentials.
“The client has become self-sufficient in configuring reconciliations for all of its divisions and performing solution upgrades. Since all divisions access the same solution, all subsidiaries benefit from enhancements in the application.”