Case Study: IBERIABANK cuts reconciliation time from hours to minutes with Altair Knowledge Works

IBERIABANK Cuts Reconciliation Time from Hours to Minutes with Datawatch

IBERIABANK, a Lafayette, Louisiana–based bank with more than 125 years of history and roughly $20 billion in assets across the southeastern U.S., faced a laborious general ledger reconciliation process. With millions of rows—about 19 gigs of data—to reconcile on daily and monthly cycles, the team needed to automate to handle growth and reduce manual effort.

Drawing on experience with Altair Monarch from Old Florida Bank, IBERIABANK implemented Monarch to extract data from multiple databases and PDFs, produce nightly flat files, and feed its reconciliation software. The process is now fully automated and scheduled overnight, cutting a reconciliation that once took two hours down to 2½ minutes on one account and freeing staff to analyze results and resolve issues faster.

IBERIABANK

Denny Pagnelli

Controller