Reconciliation support with CBS Data Reporting
“SCV Forza – FSCS SCV Automation Platform” aided account balance reconciliation by putting a seal on discrepancies and identifying exceptions, which streamlined financial operations and increased audit preparedness.
Account reconciliation is a crucial operation in every financial institution, and good management of the subjected activity is critical to an organization’s success. The primary goal of reconciliation is to find discrepancies in data and resolve them.
In this business case, we will discuss the process of comparing different sets of an organization’s account data and confirming that the Reconciliation report produced by our “SCV Forza – FSCS SCV Automation Platform” have the same totals or pair in a specific, predefined way, as well as ensuring that the records from two different sources are correct, comparable, and matching system of records.
This process ensures that the account balance is correct and that the organization’s records are in sync with the 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