Intesa Sanpaolo needed a system that provided greater efficiency and a better quality of results when it came to the reconciliation of operational flows between their various Front Office and Back Office systems. Too much of the process was manually executed and too many individual financial and operative tools had entered the chain, which in turn resulted in a higher level of operative risk.
To improve the situation, they needed a flexible and efficient data retrieval and reconciliation system which could, among other things, virtually remove the need for manual input, increase automation and simplify operations and usability for the end user – all while being deployed incrementally.
Step forward Irion!
The Solution – Irion
Irion was just what Intesa Sanpaolo were after.
The solution has the capacity to receive and process data flows from the many individual applications in use, whether they are third party (Kondor+, Murex, Orc) or internal (the various Back Offices). It then identifies the specific data that requires further analysis and in doing so it provides users with an easy, immediate and complete investigatory tool.
The Benefits
Since Irion was put into place for Intesa Sanpaolo, manual activity has been practically eliminated from the process, meaning that staff can now devote time to more pressing activities. This has streamlined operations for the client considerably.
Very powerful data management functions enable users to verify and control data that appears incorrect. Any problems that arise are now immediately highlighted so that they can be taken in hand by the responsible offices.
Irion also worked to eliminate the use of a whole series of tools that had been individually built and which were no longer capable of offering the quality guarantee required By rationalising processes instead, Irion enabled a much greater level of flexibility in the definition of control rules.
Finally, thanks to Irion’s excellent documentation and reporting functions, the entire process is now correctly and completely documented.
