Fiserv, a global provider of financial services technology solutions, has launched Frontier: Account Control to surround the reconciliation process with effective and efficient risk management and compliance controls.
Part of the Frontier 5.0 release, this new module automates the preparation, review, approval and monitoring of all operational and balance sheet reconciliations across any operation within financial services institutions and corporate organisations.
“Direct customer feedback was a vital component as we set out to map new territory in enterprise reconciliation,” said Brad Foohey, senior product manager, financial control solutions, Fiserv. “This new version of Frontier with Account Control delivers a more efficient, intuitive user experience, focused entirely on reconciling in less time and with less risk within the process.”
Financial services institutions and corporate organisations using Frontier: Account Control will now be able to:
- Define reconciliation standards, ownership and post period ledger changes.
- Ensure completeness and consistency in reconciliation creation.
- Have full visibility and transparency into the reconciliation process to simplify the financial close and meet compliance mandates.
- Store all documentation related to the reconciliation process in a fully audited manner.