EasyRec was selected as official reconciliation solution by a major European financial institution (name is confidential) for its Financial Market division.
The specificity of this client is that its Trading platform is not installed on-premises but rather is maintained by the software vendor on the cloud. Due to this architecture and also due to the security policy, the client does not have direct access to the financial database but has to deal with various reports and data extractions.
The specific requirement of this project was the capacity to reconcile agnostic data (Excel files, flat files, XML files). The client was looking for a flexible solution that could allow the team to implement any kind of reconciliation and perform complex transformation (ex: reverse pivot data before running reconciliation of Excel files).
- Front Office and Risk Control: P&L, Static Data and Trade reconciliations, covering all product and instrument types
- Back Office: Payments reconciliation
- Liquidity Management: Nostro reconciliation and Cash Flows
- Non Regression Testing: Automatic Validation of binary changes
EasyRec Key Features
- Data agnostic: capacity to reconcile different data types and format (Tables, Excel, CSV, flat files, XML, JSON, SWIFT, …)
- Large Data: support for large data (millions of rows)
- Java Plugin: use to perform complex transformation (ex: reverse pivot data)
- Embedded Pivot Table Analysis: High level reconciliation can be done by aggregated values with drill down capabilities
- Performances: Capacity to reconcile all data in a minimum amount of time
- Mappings: Reconcile 2 sources having different naming conventions
- Cash Flow Reconciliations: define a tolerance on the value date of the flow which is part of the reconciliation keys due to discrepancies in calendar holidays
- User Comments with Workflow Validation: Escalation of exceptions detected via processing and the capacity to force breaks to match
- Exception Management
- Real-time Dashboards: Tracking and monitoring of reconciliation performances
- Audit Trail: Time stamped by user name, date & time and process taken
- Scriptable: Reconciliations can be executed by batch
