Balance Reporting
Balance Reporting (BR) is the foundation for your business to provide the appropriate financial information to your counterparties and customers to enable them to perform reconciliation as well as monitor intraday liquidity and end-of-day funding requirements.
Aquila can provide details of an account’s debit and credit activity by means of electronic confirmations as well as transaction and balance history, including forward available balances both intraday and at the end of the day in the required format.
Flexibility
The frequency of statements can be configured to an individual customer’s requirements or even suppressed should no movements occur. Any text data extracted from back-office systems that contains invalid characters is automatically translated to the alternative configured for that channel. This is especially important for countries that have accented character sets that are not valid for messages, for example, in the SWIFT network. BR is typically configured to produce SWIFT FIN and ISO 20022 type messages. The ability to configure duplicate statements to be sent to one or more alternative destinations can also be configured for specific accounts.
Online Enquiry
With a comprehensive search facility, users have the ability to immediately locate and display any related messages within the system, allowing them to proactively manage any investigations as they occur.
Compliance, User Security and Audit
User profile and static data changes are managed under dual control. Users can be allocated to or prevented from performing specific functions. Comprehensive audit logs of all changes are available for the appropriate staff.
Benefits
BR gives an institution a number of commercial advantages:
- Acquiring new and retaining existing relationships by assisting the liquidity management process
- Charging of fees for this service
- Reduce manual effort
- Reduce risk
- Reduce processing costs
- Improve audit
- Improve compliance
- Improve accuracy
- Faster resolution of issues
- Scalable for increased demand
