HSBC Republic Bank (Suisse) has rolled out Accurate Software's operational risk management system, Accurate NXG, at its Hong Kong and Singapore offices.
The bank, which is the private banking division of the HSBC Group, will use the workflow and reconciliations modules from the package to manage payments, securities and foreign exchange transactions.
Accurate says its NXG product introduces workflows that can automatically assess errors early on, pre-empting consequential downstream errors and forward the information on to the relevant staff.
The reconciliations module enables users to link to various data sources across the enterprise as well as map new data formats. Reconciliation results are then forwarded to exception management workflows or other processing systems for investigation, repair or analysis.
Denis McQuade, executive vice president, Australasia, Accurate Software, says: "We look forward to working closely with the HSBC Republic Bank to help them reduce operational risk and increase efficiency across all their reconciliation and workflow requirements."