Sell-Side Technology Awards 2024: Best sell-side reconciliation platform—Gresham Technologies

Overview

Gresham Technologies’ Control platform provides users with a single application for end-to-end automation, validation, and reconciliation of their data, controls, workflows, and reporting. Control’s data-agnostic workflows, holistic views of controls and multi-way reconciliations help firms improve processes, reduce reconciliation times by as much as 50%, and accelerate the launch of new controls by up to 97%.

The solution  

The Control platform ensures data is accurate and transparent, allowing firms to develop efficient workflows, scale to increasing volumes and complexity, and reduce risk. It provides advanced rules, data, fast and accurate matching, and patented intelligent workflows and integration enabling firms to identify potential fails, resolve exceptions, and accelerate onboarding of controls (within days versus weeks or months). Its data quality and governance standards increase transparency via tighter, audit-ready views of controls.

Secret sauce  

• Control is data-agnostic with no fixed width or schema and can ingest unstructured and non-standard data.
• Control features N-way reconciliation—which compares multiple datasets within the same view―enabling users to add as many data “‘sides” as required from different internal and external feeds in any format.
• Control supports faster control onboarding to reduce risk and accelerate time to market.
• Control features patented, intelligent integration that helps identify potential fails and reduces exceptions.
• Control is available as a cloud-based managed service, offering scalability and alleviating strain on internal teams.

Recent milestones

• Enhanced cash matching: Multi-algorithm approach to find matches even in poor quality data, 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 dynamic API to query cash, holdings, transactions, and logs and to post comments back to the system

Future objectives

• New UI for management of exception storms, 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 seamless 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

Last year, Gresham caused a bit of a stir by emerging victorious in this ever-competitive category, and by so doing usurping SmartStream’s crown as the go-to provider of reconciliation technology and services for the sell side. Its greatest challenge this year was to show that last year’s success wasn’t an aberration. Winning this category two years on the bounce shows that Gresham is now one of the obvious choices for sell-side firms looking for fast, accurate and transparent reconciliations, delivered as a cloud-based platform or as a managed service. Its recent updates to the Control platform illustrate just how busy Gresham has been over the last 12 months.