Source: Jack Henry & Associates
Jack Henry & Associates,(Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that the Enterprise Exception Management Suite (eEMS) provided by its ProfitStars division has been selected and implemented by PNC Bank, a member of The PNC Financial Services Group.
eEMS is an enterprise risk management solution that is driven by a real- time rules engine that helps financial institutions proactively identify and mitigate the risks associated with financial and operational data. Its focus is on reconciliation, exception management, compliance monitoring and control, and business intelligence.
After a number of acquisitions, PNC launched a search for a system capable of supporting centralized reconciliation throughout PNC's branch network. "Streamlining our business processes while reducing risk is a key differentiator of our business strategy," said Barbara Moran, vice president of Centralized Functions at PNC. "As we acquired branches, we wanted to find a system that would automate all support for our Teller Cash group, but also would have the open architecture and flexibility to eventually automate virtually any reconciliation and exception management task in our entire enterprise."
She added, "eEMS is now supporting thousands of tellers in our 861 branches. We were looking for the best possible system at the best possible price and we found it with eEMS."
eEMS provides interfaces to all of the teller-related application systems used by PNC, seamlessly compiles data from these disparate sources, automatically matches data elements and identifies exceptions, and loads each exception into a queue for resolution in a fully automated environment that strictly enforces the appropriate levels of security. eEMS also enables PNC to measure staff productivity and performance, track the history of every exception item from identification through resolution, to recover from systematic events significantly faster and more efficiently than recovery in a manual environment, and to accurately determine the financial impact of each of these occasional incidents.
In addition to staffing reductions, eEMS also has reduced branch telephone inquiries from an average of 10 minutes to 3 1/2 minutes, and reduced teller over/short inquiries by 29 percent, PNC's Moran said.
According to David Foss, general manager of ProfitStars, "We believe eEMS is a truly innovative and production-proven solution for one of today's top- of-mind business issues - enterprise strategies for risk mitigation and control. The selection of eEMS by PNC and our ability to exceed their expectations is the best possible endorsement we could receive. PNC is an exciting addition to our client roster, and we look forward to ongoing opportunities to expand our relationship with this progressive and respected bank."