4th Annual Banking Technology Egypt Summit 2015

Intercom / Home / Insights / Events / 4th Annual Banking Technology Egypt Summit 2015

Driving innovation and raising transactional efficiency for financial institutions

Driving innovation and raising transactional efficiency for financial institutions

Nearly 90% of executives agree that lack of automation compromises their firms’ ability to drive efficiency. By adopting a centralized and automated reconciliation system, most enterprises expect to save more than 15% on their reconciliation costs. A combination of factors is forcing financial institutions to examine transaction management processes in order to reduce operational risk and cost. There is also an ever present pressure to realize cost and efficiency gains by replacing manually-intensive, paper-based processes with automated solutions that can increase straight-through-processing (STP) rates. Investments in reconciliation applications are expected to reach nearly $290 million by 2016. Decision makers in banks, driven by their need to centralize and automate reconciliation processes, are seeking best-in-class solutions for risk reduction, regulatory compliance, and process improvement.