“This current phase of control automation is just the beginning for us, consisting of our most time-consuming legacy controls which we have been unable to automate through other means. In the near future we are looking to utilise the power of Gresham’s Control on much higher volume controls, processing millions of records per day to ensure that not even one customer journey has been negatively impacted by an incomplete or inaccurate transaction.”
Retail banking controls
Retail banking controls
Innovation in retail banking has accelerated, stretching operational functions thin. Legacy headaches often clash with customer expectations. Operations and control teams need centralised, data-agnostic control frameworks to support demanding new customer propositions.
With a single source for end-to-end automation, validation and reconciliation of data, controls and reporting, we help retail banks increase efficiency, reduce manual processes, and incorporate data from multiple feeds and formats into control frameworks. The result is dramatic improvement in retail banks’ ability to create controls which match the wide range of innovative products and services offered to their customers, reducing costs, increasing efficiency, and minimising risks.
Payment controls
payment controls
In the fast-paced world of payments, customers expect both innovation and speed. This can make staying in control of your data and your business, challenging, especially when dealing with large volumes of data. But with regulatory scrutiny and fraud concerns rising, this control is more important than ever.
We enable payments providers to build robust, flexible controls which are as simple or as complex as needed and scale with the business as required. Rapid onboarding and full support reduce time-to-market whilst our data-agnostic technology incorporates data in different formats and systems from across your business. With experts supporting your reconciliation and control requirements, your resources are free to focus on value-generating activity elsewhere.
Intelligent connectivity
intelligent connectivity
In a complex ecosystem, banks have more third party relationships than ever. But the partners, regulators, trading venues, and financial institutions whose systems and data you need to connect with, each have their own unique connectivity requirements and data. Managing these can quickly become a costly and onerous burden.
We provide intelligent connectivity to third parties across the financial ecosystem, simplifying complexity for retail banks and payments providers. Our out-of-the-box connectors are ready and waiting for you to use, whilst our years of domain expertise enable us to respond to any custom requirements quickly and efficiently. A fully managed service option allows your team to focus on business-critical tasks, knowing that your connectivity requirements are being managed by the experts.
Message transformation
message transformation
The right data, in the right format, exactly where you need it – critical for your business, but often harder to achieve than it should be. Multiple messaging standards and proprietary formats at partner institutions leave banks struggling to transform data from different formats and sources as well as keep on top of constant changes and updates. ISO 20022, the emerging global standard, will make this more challenging – and more important.
We offer a fully managed solution to acquire, format and produce data standards based messages including FIX, FPML and ISO 20022 and many others. Whether you are looking for fast, efficient translation solutions, or to optimise your processes and leverage the rich additional data that comes with ISO 20022, we can help with both off-the-shelf and customised options, providing full revision and maintenance of standards as well, to make compliance simple and painless.
Data transformation
data transformation
Digitally transforming into an innovative, customer-focused organisation is paramount to sustainable competitive differentiation. However, banking and payments organisations are often constrained by legacy infrastructures and extensive manual processes, making it difficult to meet evolving customer demands, scale to business growth, and enter new markets.
Effective data migration and transformation empowers banks, payment and card services providers to digitally transform their legacy infrastructures. Built for scale, we provide powerful, flexible connectivity (including SWIFT MT and MX messaging) and controls that keep up with the innovation customers demand while eliminating manual tasks, simplifying system integration, increasing efficiency, and reducing operational risk.
Digital banking
digital banking
Digital neo and challenger banks need to meet aggressive deadlines to compete. Connecting and integrating multiple systems, data sources and services are imperative to eliminate exposure to errors. Otherwise, gaps in payment processing and reporting make it difficult to identify and address problems.
Automating reconciliations and managing data flows and connectivity across the business are required to prevent errors from escalating or going undetected, while stringent monitoring and tracking between your systems ensure issues are identified and handled quickly. With real-time reporting and monitoring, your business will have the much-needed control over its operations and data as it embarks on its new venture.
Legacy replacement
legacy replacement
Long-standing and often redundant legacy systems and data continue to hold back banks and payment service providers from keeping pace with changing customer demands and complexity. To compete and grow, they need robust, future-proof control frameworks that reduce risk, create process efficiencies, and optimise internal resources.
We help banking and payments service providers overcome inefficiencies by digitally transforming their legacy infrastructures, and controlling and connecting more data to meet evolving customer expectations and innovate faster. Our Connect and Control solutions reduce error-prone manual interventions and increase the accuracy and visibility of underlying data to drive payments, operations, reconciliation and regulatory workflows.
Regulatory compliance
regulatory compliance
With new compliance requirements constantly emerging, and regulators paying closer attention, the banking and payments industry is under scrutiny like never before. Regulators have indicated that poor quality or missing data is no excuse for non-compliance, and the consequences are not limited to fines and penalties. With zero tolerance for errors, reputational damage is inevitable if your firm experiences a significant control failure.
We enable the banking and payments industry to comply with regulatory demands by giving them total confidence in the integrity of their data. Managing all of your controls in one system gives you the holistic view you need to identify and rectify issues. Data visibility and clear audit trails not only give you assurances over your activity, but also allow you to demonstrate this to regulators. With a strong foundation of accurate and complete data and controls, your organisation can comply with confidence.
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Brink's expands use of Clareti Platform to deliver enhanced payments services
Brink's has extended its use of Gresham’s Clareti technology, selecting its Clareti Connect solution to manage the integration of payments messages across Brinks’ network of transaction banks, enabling complete, visibility on payment statuses.