EasyRec was selected and used by DZ Bank as the official reconciliation solution for the upgrade of the Bank’s Trading Platform, including the global P&L reconciliation of the Bank.
Areas of the Bank included:
- Front Office and Risk Control: P&L, Static Data and Trade reconciliations, covering all product and instrument types
- IT: Configuration management & version control
- Back Office: Payments reconciliation
- Liquidity Management: Nostro reconciliation and Cash Flows
- Market Data: Comparison between different Desks
- Finance: 3 way reconciliation and Accounting reconciliation
- Non Regression Testing: Automatic Validation of binary changes
EasyRec Key Features
- Data agnostic: capacity to reconcile different data types and data format (Tables, Excel, CSV, flat files, XML, JSON, SWIFT, …)
- Large Data: capacity to reconcilie large data (millions of rows)
- Rich Reporting: EasyRec has the ability to provide trade/transaction verification, irrespective of the product/instrument type, whilst performing the correct data collection and normalization
- 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
<< EasyRec was selected as the strategic solution for the Bank providing control, reliability with increasing quality of deliverable >> Michael DRELOW, Project Director DZ BANK
