After years of manual reconciliations, Community Bank was ready to move to an automated system. A thorough search suggested that Frontier™ Reconciliation from Fiserv would provide an excellent return on investment.
Manual reconciliation processes were taking far too long, tying up needed bank personnel. In addition, the matching success rate was lower than liked.
Implementation of Frontier Reconciliation from Fiserv
- Smooth implementation of Frontier
- Reconciliation and excellent training program get the ball rolling
- Reconciliation times cut down from one half-day to one full-day per bank to one hour for all
- Match rates increase from a low range of 30 percent to a higher range of 80 percent
- Staff freed from reconciliations to concentrate on core competencies
- Cost savings estimated at a range of $40,000 to $80,000 per year