White paper: The Reconciliation Maturity Model
Reconciliation is an essential control function in financial services, aimed at eliminating operational risk that can lead to fraud, fines or in the worst cases, the failure of a whole firm. And yet, innovation in this area has been slow and operations reliant on people power and spreadsheets are prevalent.
Duco, the global provider of self-service data integrity and reconciliation services, has launched the Reconciliation Maturity Model – a new roadmap that enables financial firms to consolidate, automate and drive efficiency across reconciliations.
However, the journey to automation is not a simple path for many organisations. How can firms automate and streamline their reconciliation function now? What options are there for updating and consolidating systems?
The Reconciliation Maturity Model provides practical advice on why reconciliation can be difficult to automate, how forward-thinking firms are addressing this, and the types of technology that are needed to take an organisation’s processes to the next level.
The model covers the five key stages of reconciliation maturity, from “manual” through to “automation” and eventually “self-optimising” – where machine learning (ML) technology automates nearly the entire reconciliation process, resulting in a seamless process where intersystem reconciliations become a thing of the past.
Download the new white paper from Duco to:
- Discover the five stages of reconciliation maturity.
- Benchmark your firm’s current setup against the model.
- See how agile technology can help you eliminate manual and spreadsheet-based reconciliations right now.
- Plot a course towards a better future where machine learning renders intersystem reconciliations unnecessary.
CLICK HERE TO READ THE WHITE PAPER