Case Study: AIA Malaysia streamlines reconciliation and cuts costs with Broadridge

AIA Malaysia introduces reconciliation automation to simplify operations, improve accuracy and reduce costs

AIA Malaysia, part of AIA’s Asia Pacific insurance business, needed to improve operational efficiency by automating daily bank statement reconciliations against its internal ledger. Its manual Excel-based process made it difficult to meet reporting deadlines, with exceptions taking weeks to identify and resolve, and growing transaction volumes adding pressure. Broadridge provided a reconciliation solution to address these challenges.

With Broadridge’s reconciliation automation, AIA Malaysia was able to streamline reconciliations, rapidly identify and resolve breaks, manage exceptions and aging items more effectively, and support multiple reconciliation types and file formats. The result was more transparent reporting, tighter controls, improved productivity, and on-time reporting, while cutting reconciliation resource needs by 50% and reducing costs and operational risk.

AIA

Mohd Khairil

Senior Manager Finance