Even with strict regulations for accurate and compliant financial reporting, many organizations still use manual or semi-automated processes for reconciliation and certification. Such processes can result in errors, operational inefficiency and lack of visibility into the numbers during certification.
That’s why organizations turn to FrontierTM Reconciliation from Fiserv. Automated reconciliation can have a significant effect on the bottom line while also reducing risk.
A comprehensive end-to-end reconciliation and certification solution, Frontier Reconciliation forms a complete account reconciliation picture across your enterprise that makes exceptions instantly visible and reduces manual interventions. Workflows fully automate labor-intensive processes and ensure compliance with corporate and regulatory controls.
But reducing errors and write-offs is only part of the picture. By minimizing the need for manual research or interventions during the reconciliation process, organizations can achieve major efficiency improvements and lower operational costs while enabling staff to perform more value-added work.
Automated reconciliation can help ease the back-office burden caused by quick and convenient front-end processes, while tightening important controls and lowering risk. Financial institutions that choose to embark on the journey toward automation can expect to achieve six key benefits.
Frontier Reconciliation minimizes the risk of financial misstatement with transaction-level matching – on one-to-one, one-to-many and many-to-many levels – and a comprehensive audit trail.
Designed as a data-agnostic system, Frontier Reconciliation can ingest data from virtually any source and in any of the most commonly used formats to identify and resolve exceptions with speed and accuracy.
Frontier Reconciliation works seamlessly with all core platforms as well as general ledger solutions including Prologue™ Financials from Fiserv.
Your inquiry has been successfully submitted. We will route it to the appropriate member of our team and they will respond within two business days.