FINBOURNE and Taskize have joined forces to help operations teams in capital markets organisations manage breaks, reconciliations, and exceptions faster and with increased accuracy.
FINBOURNE handles the data, providing you with automated data ingestion and reconciliation processing that delivers simplified data comparisons across varied systems and sources. The tailored workflows can be configured to adapt seamlessly to your organisation’s specific requirements, and should any exception arise, the Taskize exception management solution consolidates all available information – including emails, messages, attachments, and exception data – for a swift resolution.
Why integrate with FINBOURNE?
Increase efficiency
Significantly reduce the number of hours needed to identify and manage exceptions, freeing your team up to concentrate on more important activities.
Reduce risk
Be confident that when issues or exceptions are encountered, they are being tackled in a robust, consistent, and auditable way.
Enhance collaboration
Break down silos between different departments and organisations, ensuring that all relevant teams have visibility into issues and can collaborate in real-time to resolve them.
“For our clients, the ability to configure and control complex workflows on the platform is a given; the next challenge is reducing resolution times for intraday breaks in their book of record, and this enhanced integration with Taskize does just that, freeing up staff to focus on other tasks.”
Gus Sekhon, Head of Product, FINBOURNE Technology
“Asset managers’ operations teams are at full capacity and cannot afford to be inefficient in their approach to exception resolution. Greater interoperability of post-trade platforms is essential to enabling staff to do more with their time, and the data generated will be invaluable to senior management’s strategic decision-making.”
James Pike, Interim CEO, Taskize
How does it work?
Challenge
Every day, the Operations Team at an asset management firm handles huge amounts of data. They receive hundreds of files from multiple fund administrators, each varying dramatically in quality and accuracy.
The Operations Team needed a way to quickly compare the data provided by the custodian with their own records, identify discrepancies, understand why the discrepancies occurred, and flag any issues to the relevant team for speedy and consistent resolution.
Outcome
With the automated process in place, the firm achieved a significant reduction in the number of hours needed to manage the end-to-end process, while simultaneously improving confidence in the accuracy of their data.
Solution
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FINBOURNE |
Taskize |
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Automatically ingests data from various sources, including custodians and fund administrators. |
Receives the flagged exceptions from LUSID, automatically assigning them to the relevant team members. |
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Cleans and normalises the data to ensure consistency across different formats. |
Provides a centralised platform where teams can view, discuss, and resolve issues collaboratively. |
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Reconciles the data against internal records, identifying discrepancies in real-time. |
Tracks the status of each exception, ensuring no issue is overlooked. |
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Flags discrepancies and categorises them based on priority. |
Escalates unresolved exceptions to higher-level management if required. |
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Pushes the flagged discrepancies to Taskize for resolution by the appropriate teams. |
Maintains an audit trail of all actions taken, ensuring compliance and transparency. |