Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today unveiled FrontierTM: Account Control, its latest offering to surround the reconciliation process with effective and efficient risk management and compliance controls.
Part of the latest Frontier 5.0 release, this new module fully automates the preparation, review, approval and monitoring of all operational and balance sheet reconciliations across any operation within financial services institutions and corporate organizations.
“Direct customer feedback was a vital component as we set out to map new territory in enterprise reconciliation,” said Brad Foohey, senior product manager, Financial Control Solutions, Fiserv. ”This new version of Frontier with Account Control delivers a more efficient, intuitive user experience, focused entirely on reconciling in less time and with less risk within the process.”
Financial services institutions and corporate organizations using Frontier: Account Control will now be able to:
• Define reconciliation standards, ownership and post period ledger changes
• Ensure completeness and consistency in reconciliation creation
• Have full visibility and transparency into the reconciliation process to simplify the financial close and meet compliance mandates
• Store all documentation related to the reconciliation process in a fully audited manner
In addition to Account Control, the new version of Frontier also delivers a unique Viewpoint™ dashboard providing the real-time visibility required to prioritize work and manage the entire reconciliation process more efficiently and accurately. Enhanced case management capabilities make the process even easier by highlighting critical exceptions and providing actions for rapid resolution.
A core competency of the company, Fiserv offers a unique breadth of Risk and Compliance solutions to help clients optimize usage and return on capital by making risk transparent and actionable within their organization. Solution areas include Financial Risk Management, Financial Performance Management, Financial Crime Risk Management and Financial Control Solutions.