As the financial industry continues to face increased scrutiny and regulatory oversight, organizations must ensure accurate and compliant account reconciliation – or face consequences. Yet many organizations spend too much time gathering data from disparate systems and relying on error-prone spreadsheets. The result is an inefficient process and unreliable financial statements.
Our Automated Reconciliation System
From automated reconciliation processes to account error mitigation, there are many reasons why organizations choose Frontier™ Reconciliation from Fiserv. Frontier Reconciliation is a comprehensive, fully automated account reconciliation and certification solution that handles all transaction types and financial instruments. Designed as a data-agnostic system, Frontier Reconciliation can ingest data from virtually any source to identify and resolve exceptions with speed and accuracy.
Frontier Reconciliation enables 60-80 percent operational efficiency gains over manual processing, reduces write-offs by 75 percent and cuts in half the risk of errors resulting in financial loss.
Benefits of Our Account Reconciliation Software
Frontier Reconciliation offers powerful automated bank reconciliation tools and benefits:
- Helps to avoid restatement or correction of financial reporting
- Reduces delay in the reporting of certified accounts
- Gives complete and consistent information for auditors
- Reduces deficiency findings during internal control audits
- Ensures supporting information is accurate and delivered on time
- Integrates with Fiserv core or Prologue™ Financials general ledger