Offshore banks implement Idom reconciliation solution

Offshore banks implement Idom reconciliation solution

N M Rothschild & Sons and Bank of Butterfield (Guernsey), have implemented BM+ RECS, Idom's solution for automated reconciliation and exception processing in their offshore banking operations.

Rothschild has replaced an existing reconciliation system with BM+ RECS, while Butterfield Guernsey has chosen to automate a process previously handled manually. Both organisations are looking to increase operational efficiency by raising the volume of transactions that are auto-matched and by using flexible matching rules to reconcile the remainder.

Clive Bowles, managing director of Idom Consulting, says: "BM+ RECS solution has been developed to fill a gap in the market for a cost effective reconciliation solution."

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