Case Study: A Top 10 U.S. Commercial Bank achieves real-time operational risk visibility and on-demand reporting with Precisely

A Top 10 Bank Uses Precisely to Manage Operational Risk

Top 10 U.S. Commercial Bank faced an enterprise-wide visibility problem despite having Precisely balancing and reconciliation solutions in place that reconciled 98% of its accounts to the G/L. Disparate legacy tools (Excel/Access) and manual processes left management without real-time analytics, required a week to produce month-end reports, and threatened scalability as mergers, acquisitions and transaction volumes grew.

Precisely implemented a reporting engine and integrated Precisely Solutions across lines of business, using automated rules and LOB-authored analytics (including alerts for transactions $1M+). The Precisely platform delivered real-time process monitoring, enabled over 1,300 read-only users, produced full audits in real time, consolidated reporting to a single source of truth, reduced costs and increased productivity, and materially improved the accuracy of analytics, compliance and enterprise risk mitigation.