Data control case study: Tier one bank saves £3 million
See how a global, tier one investment bank tackled its data quality and control issues and saved £3 million a year in operational costs: Watch the video case study
Cost effective, compliant data control in resource constrained times.
Do more with less is a common demand for operations teams in financial institutions, but in a complex trading and regulatory environment, it isn’t easy to keep a cost effective and compliant view of your data. How can you ensure that your data quality and controls are both efficient and effective?
The Chief Information Officer of a leading investment bank faced this challenge with an ageing and fractured tech stack which simply wasn’t capable of meeting demanding data control requirements. The CIO decided that data integrity would be an impossible goal without a modern reconciliation platform.
A modern reconciliation platform for effective data control.
After a competitive tender process, Clareti Transaction Control (CTC) from Gresham was selected to deliver a business wide system replacement. Implemented in 8 weeks, CTC transformed the CIO’s function, improving break and match rates across 600 reconciliation runs, increasing control onboarding capacity from 30 a year to 80 a month, and delivering operational savings of £3 million a year.
Now processing over 200 million transactions a day across all asset classes, CTC is a strategic part of the investment bank’s core and non-core controls, combining data governance, data control and reporting practices in one straightforward platform which delivers improved reconciliation results and data quality, increases efficiency and reduces costs.
Now the CIO has a real time view of their data, 100% reconciled, 100% of the time, and achieved the impossible – do more with less.