Electra Reconciliation increases efficiency at London-based asset manager
NEW YORK –June 21, 2018 -- Electra Information Systems (Electra), the leading provider of state-of-the-art reconciliation solutions for the asset management industry, today announced that London-based Cardano has implemented Electra Reconciliation to support intraday reconciliation to increase efficiency and eliminate risks associated with waiting until the next day for exceptions to be resolved.
Intraday reconciliation has become increasingly important as managers accelerate the frequency at which they process reconciliation data and move away from overnight file processing. Electra’s intraday reconciliation capability addresses the risks associated with waiting until tomorrow to resolve exceptions identified today. Electra utilizes a proprietary algorithm that identifies and excludes duplicate data while allowing true reconciliation updates to enter the workflow. This approach to delta identification eliminates the importing of erroneous exceptions and the time lost investigating them. Electra Reconciliation also manages the migration of exception management-related material between the historical data in the solution and all incoming delta updates. This important feature safeguards the integrity of the investigation audit trail.