Reconciliation support with CBS Data Reporting
“SCV Forza – FSCS SCV Automation Platform” supported account balance reconciliation by setting the seal on the discrepancies and spot the exceptions that streamline financial processes and increase audit readiness.
Reconciliation of account transactions is one of the critical operations in every financial institution and the effective management of the subjected activity is essential to the success of an organisation. The main objective of performing reconciliation is to identify incompatibilities in data and achieve resolution.
In this business case, we will discuss about the process of comparing the different sets of organisation’s account data and confirm that the Reconciliation report produced by our “SCV Forza – FSCS SCV Automation Platform” have the same totals or pair in a specific, predefined way and ensure that the records from two different sources are correct, comparable and matching system of records. This process reassures the validity of the account balance and the accuracy of the organisation records harmonising with Core Banking Solution (CBS) data records.
FSCS - SCV Reporting Challenges & Bottlenecks for Foreign Banks in the UK
Our Regulatory Reporting Solution and Data Governance Support for Foreign Banks in the UK