Case Study: Mattioli Woods saves 14,000+ staff hours with STX Next’s Azure-native reconciliation platform

Mattioli Woods saves 14,000+ staff hours with STX Next

Mattioli Woods, a UK wealth management firm, faced a significant operational challenge. Its team was spending over 14,000 hours annually manually reconciling bank transactions, a process that was inefficient and prone to error. To modernize its operations, Mattioli Woods partnered with STX Next to build an automated reconciliation solution.

STX Next designed and implemented an Azure-native platform called ReconSync. This system automated the entire data flow, connecting the banks, the internal transaction system, and a reconciliation engine. The solution processes over 320,000 transactions annually without manual intervention, saving those 14,000+ staff hours. This freed nearly 200 employees from daily reconciliation tasks, allowing them to focus on client advisory work instead.

Mattioli Woods