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Enterprise reconciliations - a 'sexy' businessProduct Type: Market Research ReportPublished by: Datamonitor Published: March 2004 Product Code: R313-6621 Description IntroductionBanks and securities houses have a need to move from batch driven processes of ‘cash at bank’ and ‘securities in custody’ recon to near real-time operations. These recon and related exception management processes are now expected to cover the complete transaction lifecycle of all business transactions, no matter the type / format. This brief profiles the evolution of recon solutions in the market. Scope Detailed discussion on the critical business and technical issues facing banks and financial institutions in light of global regulatory initiatives. Comprehensive analysis of the required features for any true enterprise wide reconciliation solution and discussion of which vendors can deliver In-depth vendor profiling of Accurate Software, CheckFree, City Networks, Electra, FMC, SmartStream and SunGard’s solution and financial performance Discover which vendors can deliver on the promise of enterprise recon in order to meet your business needs and requirements Report Highlights FSIs must ready themselves to review operational risk and operational control processes and capabilities across the enterprise to ensure the ongoing maintenance of appropriate systems and controls to ensure adherence to regulatory requirements. Recon systems are evolving to become more generic in nature to be capable of accepting data and messages in a wide variety of formats. Traditionally, only fixed messages, such as SWIFT, CLS, FIX, etc, were considered, but now they must be able to accept data sent by a large number of internal and external systems, providing match rates of over 90%. Any vendor wishing to successfully offer a recon solution on an enterprise wide scale must include core architecture components such as generic matching, transaction management, exception management, integrated MIS reporting and web access in order to achieve the benefits associated with an enterprise wide recon offering. Reasons to Purchase Identify and understand key technologies that are relevant in pulling together an integrated and coherent reconciliations infrastructure For financial institutions and banks, enhance planning of compliance initiatives & obtain key action points in streamlining reconciliation functions Benchmark the providers of enterprise recon solutions to ensure that they meet your needs - from a technical, business and culture perspective Table of Contents TABLE OF CONTENTSABOUT DATAMONITOR 2 EXECUTIVE SUMMARY 5 RECONCILING ENTERPRISE-WIDE PROCESSES 7 Introduction 7 Reconciliation evolves to automate and manage the lifecycle of STP 10 VENDOR PROFILES 15 Accurate 15 CheckFree 17 CityNetworks 19 Electra Information Systems 20 Financial Models Company 22 SmartStream 23 SunGard 25 COMPETITIVE ANALYSIS AND POSITIONING 27 License revenue performance 27 Vendor positioning 28 Selecting the right enterprise reconciliation vendor 30 CONCLUSIONS 32 APPENDIX 34 Further readings 34 SPP writing team 34 |
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