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Case Study
Realtime Trade Recons with 3forge
About the company
Our client, a large global bank operating across multiple continents, is a key player in the financial services industry. The bank faced growing pressure to enhance its trade reconciliation process in response to rising trade volumes, more stringent regulatory requirements, and the necessity for real—time insights across its Front, Mid, and Back Office functions.
Challenge
With the T+1 settlement rule now in effect, the client faced a critical challenge in optimizing its reconciliation processes. A survey from CFO.com shows that 75% of finance executives still rely on outdated systems or manually intensive processes for reconciliation, a significant risk given the tighter timelines. The bank needed a robust solution to match trades from nearly 100 external counterparties with internal trading desks located worldwide.
Solution
After evaluating several vendors, the bank selected 3forge's AMI platform due to its seamless integration with existing systems, real-time capabilities, flexibility for customization and integrated easy to use dashboard reporting. The implementation involved deploying 3forge AMI to handle high—speed data ingestion, real—time processing, and analytics across the bank's trading operations.
Benefits
A scalable, customizable platform enables financial institutions to address both current and future challenges without requiring extensive redevelopment efforts.
- Accelerated deployment, launching with the timeline reduced by nearly 80% compared to an in-house build.
- Enhanced compliance with evolving regulations, minimizing the risk of costly fines and penalties.
3forge Solutions
The client was able to resolve their requirements with the following capabilities:
