Sell-Side Technology Awards 2023: Best sell-side reconciliation platform—Gresham Technologies

Overview

Gresham Technologies’ Control platform provides financial institutions with a single source for end-to-end automation, validation and reconciliation of their data, controls, workflows and reporting. The platform’s data-agnostic workflows, holistic views of controls and multi-way reconciliations help firms improve various processes, reduce reconciliation times by as much as 50%, focus staff on value-added activities, and help accelerate the launch of new controls by up to 97%.

The solution

Control is designed to ensure that data is accurate and controlled, allowing firms to drive efficient workflows, scale to increasing volumes and complexity, and reduce risk. It provides advanced rules, data, fast matching and patented “intelligent” workflow and integration, enabling firms to identify potential fails, resolve exceptions and accelerate onboarding of controls within days vs. weeks or months. Its data quality and governance standards increase transparency via tighter, audit-ready holistic views of controls.

Secret sauce

• Data-agnostic with no fixed width or scheme, ingesting unstructured or non-standard data
• N-way reconciliation, enabling users to add as many data “sides” as required, from different internal and external feeds in any format
• Fast control onboarding to reduce risk and accelerate time to market
• Patented “intelligent” integration helps identify potential fails, reduce and expedite exceptions, and increase team efficiency
• Flexible managed services and cloud options for scaling and alleviating strain on internal teams

Recent enhancements

• Enhanced cash matching: multi-algorithm approach to find matches even in data of poor quality, resulting in match rates up to 35% higher than traditional approaches
• Scalability: introduced high levels of parallelism for nostro/depot matching to get results to users earlier in the day
• New API to query cash, holdings, transactions and logs, and to post comments back to the system

Future objectives

• New UI for management of breaks, including automated grouping of breaks with the same cause, and integrated business intelligence reporting
• Investigations enhancements, including a new rules library and expanded search, filter and sorting capabilities, enabling users to find and work through issues quickly and effectively
• Updated cloud-native tech stack supporting migrations from on-premises to firms’ choice of cloud or software-as-a-service (SaaS)
• API-everywhere approach to allow enhanced automation, monitoring and integration with firms’ broader infrastructure

Why they won

Gresham has been knocking on the door of the reconciliation category in these and the Buy-Side Technology Awards for a number of years now, and finally its persistence has paid off. The firm’s flagship Control platform is designed to automate, validate and reconcile firms’ data, offering time savings of up to 50% compared with traditional reconciliation processes, while its planned cloud-based technology stack will prove popular with those firms looking to migrate their reconciliations functions from on-premises to the cloud or SaaS (managed) offerings.