Kiwibank selects Broadridge for enterprise-level reconciliation management
New Zealand-owned Kiwibank has selected Broadridge’s PROactive Reconciliation solution for automation of reconciliations and investigations at an enterprise level across all areas of the bank.
The solution will support reconciliation requirements across the bank's cash nostros, point-of-sale transactions, and its products for ATMs, credit cards, foreign exchange and interbank payments.
Through the reconciliation solution, Kiwibank will be able to detect exceptions early when investigating and resolving outstanding issues and increase transparency thereby reducing operational risk as well as potential for losses or over-payments.
Automated workflow for reconciliation discrepancies will also be introduced by the bank using Broadridge tools for centralised management and tracking through to resolution.
Kiwibank GM of Payment Services Terese Tunnicliffe said that the solution featured flexibility, user-friendly screens and configuration tools.
"What ultimately led us to Broadridge's PROactive Reconciliation solution were its fixed-price, fast-track implementation, and the ability to manage our total cost of ownership by transferring skills to configure new reconciliations ourselves rather than incurring post-implementation consultancy fees," Tunnicliffe added.
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