Case Study: Insignia Financial streamlines custody reconciliation with SolveXia

Insignia Financial Group - Customer Case Study

Insignia Financial, an Australian financial services group with over A$137 billion in funds, faced a significant challenge in manually reconciling its general ledger with custodian data across approximately 80 portfolios. This spreadsheet-driven process for their Custody Reconciliation took nearly two days each month, was prone to human error, and lacked consistency. The company sought a solution from vendor SolveXia to automate and streamline this critical task.

SolveXia implemented a cloud-based, automated solution that centralized the reconciliation rules, eliminating the need for 80 separate spreadsheets. This ensured consistency and accuracy across all portfolios. The solution from SolveXia was delivered within four weeks and reduced the reconciliation process from two days to just minutes. This transformation saved considerable time, allowed staff to focus on higher-value exception resolution, and provided business continuity despite staff turnover.

Insignia Financial Group

Steven Sorraghan

Head of Fund Operations