DBS Bank Selects Broadridge's Fixed Price Approach For Cash Reconciliation
Broadridge City Networks has signed DBS Bank as a new user of PROactive Reconciliations. The solution will support DBS, headquartered in Singapore and one of the largest financial services groups in Asia, for its cash reconciliation requirements across multiple locations in the Asia region.
DBS reviewed a number of suppliers to provide a new reconciliation solution in Asia due to their existing reconciliation system approaching the end of its lifespan and support. “DBS selected PROactive Reconciliations due to its clear and competitive pricing, positive user feedback in the region and the fact that its screens and configuration tools are user-friendly and easy for new users to understand quickly,” said Ong Chin Cheong, assistant vice president, technology and operations, DBS Bank.
Another principal reason behind DBS’ selection of the Broadridge solution was its ability to offer a fixed price implementation service together with a fast-track installation. “The bank favours a fixed price approach as it shows the vendor is committed to winning the business, and we believe that it also minimises implementation risk. It is important that we avoid implementation delays or the costs escalating beyond budget,” said Ong.