Manual management of scheduled balances from different Lines of Business (LOB) can be time and labor intense. However,there is a solution that promises to revolutionize this process and enhance efficiency. By leveraging the ARO platform’s advanced automation, reconcilers eliminate the time-consuming process of reformatting and consolidating balances from various LOBs.

The Client:

A top four global bank, operating in over 35 countries with assets worth an estimated $1.9 trillion has successfully implemented a solution powered by the ARO platform that automates the calculation and aggregation of support balances within the bank. By harnessing the capabilities of the ARO platform, the bank enjoys a range of benefits including:

• Streamlined workflows that changed manual process to automated process, hence removing manual dependency
• Increased productivity of 1 person/day per use case, according to the client.  However, this could increase over time
• Improved accuracy handling day-to-day operations. Removing manual errors, due to complete automation, has led to 100% accuracy

This deployment marks a groundbreaking advancement in the bank's quest for operational excellence and efficiency.

The Need:

The manual reformatting and consolidation of scheduled balances received from different LOBs posed significant challenges for reconcilers, resulting in time-consuming and error-prone processes. Recognizing the need for efficiency and accuracy, the was a demand to automate the cumbersome manual tasks involved in receiving, filtering, and calculating support balances, which were subsequently updated manually in the client reconciliation system. A framework was required which, with its robustness, scalability and stability, revolutionizes financial operations and improves the accuracy and speed of processes.

Selecting ARO to build framework:

ARO is a robust and versatile tool, offering a range of transformations to facilitate data cleaning, enrichment, and formatting – precisely the requirements for automating the process at hand. Its seamless integration with different systems and efficient data retrieval methods make it a cost-effective and time-saving solution, giving it a competitive advantage over other tools available in the market.

The solution implemented involves the LOBs sending schedule balance files to EZOPS ARO,where data standardization takes place following the transformation process, an automated schedule feed is generated, seamlessly transmitting the data to the client's reconciliation system.

This streamlined approach ensures data accuracy, improves operational efficiency, and reduces manual effort:

• ARO efficiently processes data files received via email, enabling seamless integration for further analysis
• Leveraging the ARO Data Modeler, data sets are filtered and enriched within defined scopes, delivering desired outcomes
• Customized database tables facilitate smooth data transfer, ensuring seamless connections tailored to specific requirements
• Utilizing Python plugin scripts, output reporting files are generated and placed in the outbound drive, ready for transmission to the client reconciliation system

The Business Outcome: Improved Support Balance Calculations

• ARO framework streamlines and saves time in support balance calculations, improving efficiency
• Target system updated with automated extraction, improving effectiveness and reflecting up-to-date information
• Accessible historical data serves as a valuable resource for auditing and compliance requirements

We would like to open a dialogue with you around how EZOPS can help you meet or exceed your goals. Please contact us today.