New York
03 February 2012
Reporter: Anna Reitman
Securities Lending default image

Broadridge selected to support reconciliation for New Zealand bank


Broadridge's PROactive Reconciliation solution has been selected by Kiwibank for the automation of reconciliations and investigations across all areas of the bank. The solution will support reconciliation requirements across the bank's cash nostros, point-of-sale transactions, and its products for ATMs, credit cards, foreign exchange and interbank payments.

This will enable Kiwibank to reduce operational risk through earlier detection of exceptions and increased efficiency in investigating and resolving outstanding issues. The solution will deliver transaction reconciliation and exception management at a more detailed level, increasing transparency and reducing the potential for losses or overpayments.

"What ultimately led us to Broadridge's PROactive Reconciliation solution were its fixed-price, fast-track implementation, and the ability to manage our total cost of ownership by transferring skills to configure new reconciliations ourselves rather than incurring post-implementation consultancy fees," said Terese Tunnicliffe, GM Payment Services at Kiwibank.

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