professionals1 and forms part of the Ackermans & Van Haaren Group. The bank
went live with Accurate NXG in October 2003 at its headquarters in Antwerp,
Bank J. Van Breda & Co required an advanced reconciliation solution, capable of reconciling all types of cash transactions, to be implemented within one month. The bank selected Accurate as its partner of choice because of the company's proven track record in financial services, its extensive understanding of the bank's specific business requirements, and the depth of
functionality within Accurate NXG.
Accurate's SWIFTReady Gold accredited Operational Risk Management solution,
Accurate NXG, is built on the four competencies of reconciliation, exception management, workflow and business intelligence. It provides Bank J. Van Breda & Co with a single risk control framework for nostro and cheque reconciliations - enabling them to benefit from better visibility of cash movements, improved management of liquidity, and reduction of risks associated with foreign currency transactions. Furthermore, the flexible architecture of Accurate NXG means it can easily develop as the bank's business or technology demands change.
Dirk Wouters, board member, payments and customer service, Bank J. Van Breda & Co, comments: "Our close relationship with Accurate proved invaluable throughout the selection and implementation process. We were very clear about our requirements and the tight timescales we wanted to meet. Accurate NXG and the entire team supporting us have fulfilled our expectations."
"Bank J. Van Breda & Co selected Accurate NXG because of the breadth of functionality it offers and its proven ability to reduce risk and improve operational efficiency," comments Philip Hall, chairman and co-chief executive officer, Accurate Software. "Accurate NXG went live in October 2003 following a smooth migration from the bank's existing legacy system. Since go-live, Bank J. Van Breda has experienced vast improvements in its reconciliation process - enabling its staff to focus on more value added tasks such as the resolution of discrepancies."