South African financial services group Old Mutual is to implement Accurate Software's Operational Risk Management system for the reconciliation of suspense and bank accounts at its individual life division.
Old Mutual says the product will help control risk, increase efficiency and achieve straight-through processing (STP).
Nigel Holloway, group information architect, says the solution will replace an inhouse system that no longer meets the high level of operational requirements in complex business processes.
"We are looking forward to vastly improved efficiencies in terms of productivity, accuracy and quality of delivery," he says.
Following the initial implementation within its individual life department, Old Mutual expects a group-wide deployment of the solution.