Washington-based International Finance Corporation (IFC) has selected Accurate Software's operational risk management solution for its treasury transactions.
The system has cut reconciliation time by more than 80%. IFC's straight-through processing rate has also increased, with more than 90% of transactions matching automatically.
The bank says it also plans to use the solution to automate the reconciliation of securities within its loan and equity support group. It will also implement Accurate's exception management solution for the monitoring, tracking and resolution of outstanding payments and securities transactions.