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Swiss RE Asset Management - Reconciliation Tool

Deadline: February 3, 2020

Swiss RE Asset Management is using a reconciliation tool to perform daily and other regular/ad hoc cash and securities reconciliation (transaction and balance) between SRAM trading systems and external (custodian) banks, and also for reconciliation between internal systems within SR (trading vs accounting system). Due to the fierce market and technology competition in this field, we would like to explore who are the best reconciliation solution providers addressing our requirements.

Problem statement

  • to review if new functionalities and technologies in reconciliations can contribute to greater efficiency (cost and operational), better customization (e.g. collaboration, visualization etc.) solutions and integration to our existing IT landscape
  • it is also important to see if there is a provider available who are scalable and flexible to accommodate solutions for othernon-AM related reconciliation requirements, for example Finance (accounting, account substantiation)
  • review the pricing on the market for a reconciliation tool

How can technology help?

  • new technology in RPA and AI has definitely the potential to address inefficient reconciliation processes and also increase accuracy. The speed of having reconciliation completed as quickly and timely as possible is key in the future and the trend is to approach real time reconciliation, instead of daily, monthly etc.
  • improved user experience is also an important factor which can be achieved via new technology (customization, reconciliation setup, reduction in development and deployment time, production support/system stability, less dependency on IT support)

What we are looking for?

We are looking for a tool which can provide state of the art solutions for the below requirements:

  • reconciliation tool for asset management (investment products) and for finance/treasury
  • connectivity solutions (SWIFT, API, PDF etc.) to any kind of financial market stakeholders (custodians, brokers, asset managers,ERP/general ledger etc, fintech)
  • intuitive data recognition and transformation
  • covering cash and securities, FX, Money Market, alternative investments, derivatives
  • account ownership and substantiation workflow
  • user-customizable  (via native English language) reconciliation and matching rule setup
  • machine learning functionality to enhance efficiency of the reconciliation process
  • customizable exception and risk management workflow solution
  • data analytics (real time dashboard, KPI etc)
  • cloud based 
  • SaaS
Deadline: February 3, 2020
Posted on: January 15, 2020

Swiss RE Asset Management is using a reconciliation tool to perform daily and other regular/ad hoc cash and securities reconciliation (transaction and balance) between SRAM trading systems and external (custodian) banks, and also for reconciliation between internal systems within SR (trading vs accounting system). Due to the fierce market and technology competition in this field, we would like to explore who are the best reconciliation solution providers addressing our requirements.

Problem statement

  • to review if new functionalities and technologies in reconciliations can contribute to greater efficiency (cost and operational), better customization (e.g. collaboration, visualization etc.) solutions and integration to our existing IT landscape
  • it is also important to see if there is a provider available who are scalable and flexible to accommodate solutions for othernon-AM related reconciliation requirements, for example Finance (accounting, account substantiation)
  • review the pricing on the market for a reconciliation tool

How can technology help?

  • new technology in RPA and AI has definitely the potential to address inefficient reconciliation processes and also increase accuracy. The speed of having reconciliation completed as quickly and timely as possible is key in the future and the trend is to approach real time reconciliation, instead of daily, monthly etc.
  • improved user experience is also an important factor which can be achieved via new technology (customization, reconciliation setup, reduction in development and deployment time, production support/system stability, less dependency on IT support)

What we are looking for?

We are looking for a tool which can provide state of the art solutions for the below requirements:

  • reconciliation tool for asset management (investment products) and for finance/treasury
  • connectivity solutions (SWIFT, API, PDF etc.) to any kind of financial market stakeholders (custodians, brokers, asset managers,ERP/general ledger etc, fintech)
  • intuitive data recognition and transformation
  • covering cash and securities, FX, Money Market, alternative investments, derivatives
  • account ownership and substantiation workflow
  • user-customizable  (via native English language) reconciliation and matching rule setup
  • machine learning functionality to enhance efficiency of the reconciliation process
  • customizable exception and risk management workflow solution
  • data analytics (real time dashboard, KPI etc)
  • cloud based 
  • SaaS

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