See how top regional bank M&T reduced risk and saved 283 hours per month in custodial reconciliation processing with Integra RECON.
To overcome the challenges and risks of a spreadsheet-based custodial reconciliation process, a leading regional bank partnered with Integra to implement Integra RECON. The bank is now well positioned to scale its custodial recon operations through loan acquisition.
Results
- 283.7: Hours saved using Integra RECON
- 69.4%: Improvement from implementation of Integra RECON
- 66.8%: Increase in efficiency for researching, finalizing and quality control
- 76.2%: Decrease in time required for data gathering, import and integrity checks
Challenge
The bank’s former custodial reconciliation process relied on cumbersome spreadsheets. It was mostly
manual, presenting multiple concerns for internal and external auditors:
Integra BILLING delivers multiple key features for you and your subservicing team:
- Errors and inefficiencies
- Lack of visibility and controls
- Limited repeatability and scalability
Solution
With these challenges in mind, the bank implemented Integra RECON for their loan portfolio. This represented a complete transformation of a key business function that increased productivity and reduced risk in three key areas:
- Process automation and agility
- Visibility and reporting
- Audit and controls