Increase Efficiency in Custodial Reconciliation by 69%
To overcome the challenges and risks of an Excel-based custodial reconciliation process, M&T Bank partnered with Integra Solutions to implement its SunriseRecon platform. The bank identified three key areas that contributed to those gains in efficiency:
- ✓ Process automation and agility: Automating many aspects of a mostly manual process reduced the risk of errors and decreased the time required to perform reconciliations.
- ✓ Visibility and reporting: Real-time dashboards and streamlined reporting allowed the team to proactively address potential audit issues; adopt meaningful metrics and benchmarks; and understand previously hidden operational constraints.
- ✓ Audit and controls: Thanks to built-in controls and paperless processing, SurniseRecon has decreased the time required for QA/QC by 62% and streamlined communication with auditors.
Now M&T Bank is poised to scale and grow through loan acquisitions.
" The SunriseRecon suite offers a reconciliation solution that was long overdue in the industry. We were immediately impressed from Day 1, and the functionality it offers is amazing! "
- SVP, Top 20 Regional Bank