Case Study: Think Money Group achieves FCA compliance, automated daily reconciliations and £40,000+ annual savings with ReconArt

Think Money Group - Customer Case Study

Think Money Group, a UK financial services business managing about £1bn of customer debt and over 50,000 clients, faced time-consuming, error-prone bank-to-ledger reconciliations performed in Excel. The manual process took three days per month for ten accounts, required IT intervention for hundreds of thousands of transactions, and could not meet new FCA CASS 11 daily-reconciliation requirements. To address this, the company evaluated vendors and selected ReconArt as its reconciliation automation solution.

ReconArt was deployed on-premise with a zero‑footprint web interface and integrated with Think Money Group’s RBS bank feed and internal Think Link systems, automating daily file imports, matching and exception handling. The ReconArt implementation delivered faster period-end closes, greater visibility and lower operational risk, and removed the need to hire two additional FTEs — producing Phase 1 cost savings in excess of £40,000 per year — with further savings expected as remaining reconciliations are migrated.

Think Money Group

Simon Kay

CFO