Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that its APL Reconciliation Solution can provide clients with increased cost efficiencies and improved workflow.
With the current volatility and challenging market conditions prevalent in the investment services industry, there is a heightened need for more fully automated and streamlined reconciliation processes. To meet this critical need, Investment Services from Fiserv, formerly known as CheckFree Investment Services, has upgraded its APL Reconciliation Solution with a seamless integration path into its APL portfolio accounting platform. This integration allows investment services professionals to manage exceptions within the Reconciliation Tool and send corrections to the accounting platform for real-time updates. Developed using service oriented architecture, (SOA), the new version is capable of being employed across Investment Service platforms widely used in the managed solutions market.
With several recent enhancements made to the Reconciliation Solution, usage of Investment Services APL Reconciliation Solution has grown to 40 percent since November 2008. "The Reconciliation Solution is one those developments that you can point to and say- now that adds value, which is very important in today's current environment," said William Bertolino, vice president, Rothschild Asset Management.
"Reconciliation plays an important role in how investment managers, program sponsors and third-party providers manage their risk exposure and ensure their accounts are ready to trade," said Cheryl Nash, senior vice president of strategic marketing and business development for Investment Services from Fiserv. "That's why Fiserv continually enhances APL Reconciliation Solutions, to enable clients to efficiently manage their portfolios in all market conditions. The ability to resolve exceptions according to an organization's best practice workflows and update the resolution in real time, for example, can help increase productivity, minimize financial risk and reduce overall operating costs."
The APL Reconciliation Solution is designed to consolidate ee reconciliation data on Fiserv's leading portfolio accounting platform for all relationships and custodians into one data repository, thereby allowing its users to maximize efficiency in reconciliation. Users can easily query exception data by applying predefined rules and filtering features, thus enabling them to concentrate efforts on viewing and resolving specific exceptions. With Investment Services from Fiserv's newest release of this product clients have gained further efficiencies that have the potential to reduce their overall operational costs.