- Financial Services
- Success Stories
The bank is operational in 58 countries with large presence in Europe, the Americas, and Asia. As of April 2018, this bank is among the top 20 banks in the world by total assets. As the largest German banking institution, it is the component of DAX stock market Index.
The client is a leading universal bank resting on three pillars —Private & Commercial Bank, Corporate & Investment Bank (CIB), and Asset Management. Its investment banking operations command substantial deal flow and maintain different “sell-side” and “buy-side” departments.
Infosys joined hands with this 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