RMB Asset Management, a subsidiary of South African financial services group FirstRand, is using technology from Accurate Software to manage its cash and securities reconciliations.
Accurate says RMB has implemented its operational risk management application, Accurate NXG, to consolidate cash and securities transaction processing onto one reconciliation platform.
The technology replaces a third party application as well as some manual processes that were used for cash reconciliations.
Beverley van Niekerk, head of investment administration at RMB Asset Management, says Accurate NXG also delivers a consolidated view of transactional risk.
"The real-time online access to management information via the business intelligence dashboard will enable us to quantify risks both at a detailed and aggregate level through reporting, analysis and key performance metrics," adds van Niekerk.