Gresham Computing plc, a leading provider of transaction control solutions to international financial institutions, today announced the latest release of Clareti Transaction Control – CTC 1.3. The new release includes features designed to further improve the rapid on-boarding of both existing and new reconciliations, together with further real-time management reporting and exception management.
Gresham’s CTC enables customers to quickly control existing reconciliations and launch new financial products to market with all the required risk controls in place. This helps to reduce loss events, comply with regulatory requirements and optimise business performance. CTC provides a real-time operational risk platform for all transaction types including: complex transaction types such as OTC instruments; intersystem reconciliations where there is often a lack of standards; as well as SWIFT and other highly standardised ‘flow’ transactions. These can range from simple, high-volume 2-way reconciliations (front office-back-office-general ledger) to complex ‘n-way’ security master reconciliations.
“We have already been running successful pilots of CTC 1.3 with a number of organisations that are very interested in the rapid on-boarding functionality it offers. Most of the organisations we have spoken to have significant reconciliation issues and backlogs to reduce – they need to put the necessary controls in place quickly and confidently. CTC’s rapid on-boarding wizard examines the data and generates suggested matching rules allowing reconciliations to be created in minutes, which is extremely attractive to them,” said Neil Vernon, Development Director, Gresham Computing. “Once provided with sample data, we can demonstrate CTC’s rapid on-boarding live in front of the customer,” he added.
Key new features of CTC 1.3 include:
· Rapid on-boarding wizard – match rule suggestions allow a user to provide sample data files and automatically generate live reconciliations in minutes
· Exception management – user configurable control of how exceptions are managed with in-built approval processes, workflow and access control
· Dashboards – providing views over the entire inventory of active reconciliations so that users can quickly see if these are working correctly and if any need remedial action
· Real-time reporting of risk and key performance indicators
· Intelligent searching and data extraction – ability to search narrative data to find important information that’s been embedded to support the matching process