London, 19 September 2019 – In the supposed era of digital transformation, when firms’ C-suites across the financial services realm are fixated on improving process efficiencies and reducing costs, the existence of manual workarounds and spreadsheet-based reconciliations is jarring. Artificial intelligence and machine learning-based technologies are here to save the day—or so the hype goes. But firms need to think long and hard about the next stage of labor arbitrage before they automate broken processes.
This report examines the pressures, challenges, and plans of teams tasked with conducting reconciliation at the enterprise level within their organizations. Highlighting these teams’ expectations regarding technology and their firms’ current level of automation in areas such as reconciliation onboarding, it is based on Aite Group interviews with participants representing 34 global capital markets firms conducted during Q2 and Q3 2019.
This 38-page Impact Report contains 21 figures and one table. Clients of Aite Group’s Institutional Securities & Investments service can download this report, the corresponding charts, and the Executive Impact Deck.
About the Author
Datos Insights
We are the advisor of choice to the banking, insurance, securities, and retail technology industries–both the financial institutions and the technology providers who serve them. The Datos Insights mission is to help our clients make better technology decisions so they can protect and grow their customers’ assets.