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Mony chooses CheckFree platform for account reconciliation

12 December 2001  |  2046 views  |  0 Mony chooses CheckFree platform for account reconciliation

Mony Life Insurance Company has selected technology from CheckFree to automate and streamline its reconciliation of policyholder data.

The insurer will deploy CheckFree's Recon-Plus for Windows system to automate its reconciliation process of importing, matching, reporting and exporting financial data items on a single, enterprise-wide platform.

With a match rate of 99.5%, the new platform will enable Mony to reduce the time and expense involved in the manual handling of exceptions, which can delay matching and increase risk of information error, says the company.

Patty Contegni, director of corporate accounting for Mony, says: "CheckFree's solution enables us to better monitor, track, and report account activity and has accelerated the account reconciliation process."

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