FIS (NYSE: FIS) today announced the launch of an innovative optimized reconciliation service, a fully managed solution aimed at automating the end to end for banks, companies and financial institutions.
Reconciliation is a critical quality assurance element of operating capital markets, where data from the internal systems of a business are compared to external sources such as banks and brokers to ensure consistent keeping of files between the counterparties. Using automation technology, FIS’s optimized reconciliation service aims to unlock efficiency and reduce errors in this process, eventually helping organisms to harmonize in processes used to manage their money at work.
“Early, accurate data – and Insights Capital Markets participants can export from it – are essential for the success of modern capital markets,” said Matt Stauffer, head of Back Office Solutions in FIS. “However, many businesses are still struggling to manage the exponential development of data and the complexity of data at a time when evolving regulatory requirements are further complicating the manual reconciliation processes.
The optimized reconciliation service is also positioned as adaptable, depicting FIS’s ability to modernize customer activities, while leading more efficiency to address the challenges before it affects performance.
As the last example of FIS innovation, the optimized reconciliation service is the fifth capital market solution, FIS has begun in the last 12 months to help exercise more harmony in the world’s life cycle.