Insinger de Beaufort implements Accurate reconciliation software

Insinger de Beaufort implements Accurate reconciliation software

The Jersey stockbroking operation of the Insinger de Beaufort Anglo Dutch banking group has implemented Accurate Software's reconciliation and exception management solution for its securities trading back office.

At Insinger de Beaufort the solution takes information from a Consort securities portfolio system and data in a variety of formats from numerous providers, including Swift, proprietary feeds such as Brown Brothers Harriman and clearing systems such as Euroclear. It then automatically reconciles the transactions and positions and highlights exceptions for further investigation.

An Insinger de Beaufort spokesman says: "Previously we would have to manually check an average of 3000 daily transactions to see which reconciled before we could identify the exceptions, which could take up to three days. Now the bulk is automatically matched by the Accurate solution and our staff only need to look on screen to see what items remain outstanding."

Separately, the company is reporting that it has retained its SwiftReady Gold Label for Securities accreditation for a second year, and that it has been awarded a Gold Label for Payments for the first time.

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