Credit Suisse launches reconciliations outsourcing service

Credit Suisse launches reconciliations outsourcing service

Credit Suisse is launching an outsourced reconciliation service powered by SunGard's automated matching and reconciliation technology, intelliMatch.

The bank says its Reconciliations Partner service will enable financial institution and treasury clients to outsource back-office reconciliation operations.

Credit Suisse will collect all statement information from a client's nostro bank and reconcile it to the ledger. SunGard's intelliMatch technology will be used to perform matching and reconciliation and to identify exceptions, which will be delivered to the client via a secure online portal.

Martin Rettich, MD, transaction services and solutions, Credit Suisse, says the outsourced service will provide "clients with a great alternative to owning and operating their own applications".

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