Use-Cases
Trade Reconciliation
Reconciling trade data between internal and third party systems can require monthly, weekly, and even daily manual intervention from Operations and Finance teams. Boagent helps you automate these processes, decreasing resources spent by over 50%. Mistakes can be costly, whether risk metrics are inaccurately calculated internally or auditing and accounting mistakes result in regulatory inspections and fines.
How Boagent Helps Organizations Solve Trade Recon
Flexibly automate data ingest without the need for complicated, IT-managed ETL routes. Or upload a variety of file types for quick resolution.
Take control of trade data structures and update your reconciliation processes in just hours to respond to regulatory and business demands.
Define smart tolerances to match internal trades, external trade data, and payments while minimizing false mis-matches and minimizing manual work.
Solve Your Trade Recon Challenges
Challenge
Increasing Transaction Complexity and Volumes
Financial Institutions and other organizations must deal with a variety of transaction types from payments, securities trades, fixed income trades, OTC and ETD derivatives, and more. Unpredictable volumes, client customization, and local regulations increase complexity and costs.
Solution
Boagent enables you to support and maintain any amount of transaction types without any coding required.
Our database and search structure makes managing versions and scaling to millions of transactions seamless.
Challenge
Lack of Standardization Across Systems
Different trading and payment systems create headaches for preparing data for report-ready reconciliations. External systems that lack identifiers and transparent data structures add to the complexity and are subject to change outside of your control.
Solution
Our Data Transformation and reference data mapping standardizes data for you and simplifies linkage without ETL.
You can transform and extract data directly inside Boagent, incorporating that into your ingest automation workflow.
Challenge
Strict and Compressing Deadlines
As different markets move to T+1, while clients, counterparties, and regulators expect increasingly rapid data, managing reconciliation has only become more onerous and expensive. Teams are often forced to delay investigation or increase manpower to meet deadlines.
Solution
Boagent allows you to automate recons in just days, without engaging IT. Database connections enable you to report daily without manual work.
Reconciliations run in just minutes and automatically notify responsible parties via email for rapid resolution.
Challenge
Varied Tolerances for Different Counterparties
As transaction complexity increases, so do custom agreements and counterparty practices. Different counterparties may expect different tolerances to be supported, even in a single asset class and instrument type or in a single payment type.
Solution
Create absolute, percentile, and conditional tolerances that exactly match your counterparties’ requirements.
Boagent allows you to set up different tolerances in one reconciliation, simplifying upstream and downstream steps.
See it in Action
Let us show you how Boagent can help you solve your reconciliation challenges with just 30 minutes.
Schedule a Demo Today