ABN Amro Asset Management Australia has implemented technology from Toronto-based Financial Models Company (FMC) to automate cash and stock reconciliation processes at its Sydney office.
ABN Amro has deployed the vendor's FMCRecon application to process reconciliations from its back-office fund accounting system.
Peter Merlino, director of administration, ABN Amro Asset Management Australia, says the firm was looking for a reconciliation system that was in line with its STP methodology and reviewed a number of vendors.
"FMCRecon provided all the functionality, which included Swift and user defined interfaces, security, processing controls and our philosophy of exception based reporting," he adds.
FMC also provided ABN Amro with project management, training and consultancy services.