IT news and products; Banco Sabadell select Accurate NXG.

CheckFree has announced that Banco Sabadell, Spain's fourth largest banking group, has selected CheckFree's Accurate NXG reconciliation and exception management solution. Banco Sabadell will use each component of the Accurate NXG solution across its nostro, foreign exchange and billing processes to mitigate transactional risk and tighten its operational controls. This reconciliation and exception management implementation is an example of how Banco Sabadell will leverage CheckFree's Applied Operational Intelligence. Accurate NXG will be deployed to provide the company with a single, enterprise-wide view of reconciliations, increasing efficiency and enabling better management of operational risk across the organisation. The solution will enable Banco Sabadell to manage a wide range of reconciliations, including billing, money transfers, and reconciliation of nostro, foreign exchange and money market transfers. An operational intelligence dashboard will provide senior management with visibility to critical areas of potential loss both at a detailed and aggregate level - through reporting, analysis and solid metrics. Accurate NXG's integrated exception management and workflow capabilities will enable Banco Sabadell to automatically investigate outstanding items on Banco Sabadell's nostro and foreign exchange accounts. The bank plans to utilise Accurate NXG for securities reconciliations to further improve efficiencies and provide cross-enterprise consistency with minimal IT overhead support costs.

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