Infosys rolls out new solution to simplify bank transactions

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

In order to help banks to automate and centralize their reconciliation across multiple channels, reduces costs by offering simple, easy-to-use tool for bank employees to perform reconciliation tasks and functions, Infosys has announced the launch of the Infosys Transaction Reconciliation Solution (ITRS). With automation and optimization, the solution helps reduce the need for manual interaction and increases performance through auto-matching and straight through processing. Mohit Joshi, Executive Vice-President & Head of Financial Services, Infosys, says, “A well-planned reconciliation helps banks reduce risks emanating from disparate systems and processes or manual interventions. Lack of a centralized, automated system could lead to expensive rework of reports and delays in account settlement. ITRS draws on our extensive experience of serving the evolving technology needs of global banks”. With global spend on reconciliation expected to reach $1.27 billion by 2017, banks are increasingly looking for automated solutions. A unified reconciliation solution such as ITRS helps banks efficiently while meeting the regulatory needs.