The client is a leading universal bank operating in Private & Commercial Banking, Corporate & Investment Bank (CIB), and Asset Management domains. The bank is operational in more than 50+ countries with a large global presence.
Infosys partnered with the client to implement reconciliation services for their trade, cash, and position reconciliation in listed derivatives space.
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Leveraging Agile as a Methodology
30 – 50% reduction in time to onboard recon jobs
70 – 80% rules optimization resulted in improved performance in reconciliation executions. Processes which were taking hours can be executed within few minutes
5 – 10% increase in the auto-match rates. Reduced the burden on business users, as less mismatches mean they can focus on more productive work
Additional revenue of USD 500k from indirect work linked to the provided solution
One million transactions and 50+ reconciliation jobs were onboarded and reconciled on a daily basis with optimized rules
Due to UI-based configuration in ITRS, it is easier and faster to onboard new reconciliations. A simple recon process can be productionized in less than three weeks instead of six to eight weeks