Centralised Raiffeisen International Services & Payments (CRISP), the shared service centre for Raiffeisen Bank International (RBI), has adopted Broadridge Financial Solutions’ BRx Match reconciliation system.
The change is aimed at supporting CRISP’s expanding operational needs by improving efficiency across markets in Europe and Asia, while lowering risk exposure.
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The agreement extends a business relationship between the two sides that started in 2009 and represents an update to CRISP’s reconciliation technology setup.
Broadridge said the system is expected to allow CRISP to cope with a projected fourfold rise in transaction volumes across the regions where it operates.
Broadridge Regulatory Solutions and Data Control general manager Sandeep Saggi said: “This expansion of our relationship with CRISP demonstrates Broadridge’s ability to support complex, multi-market reconciliation requirements.
“As financial institutions look to modernise their reconciliation processes while adapting to industry changes, our next-generation platform provides the technological foundation they need for future success.”
BRx Match uses a cloud-based structure with automation functions, exception handling tools and compatibility with ISO 20022 messaging standards.
It will be used across 14 markets, covering the DACH region, Central and Eastern Europe, and Asia.
The rollout includes both fresh installations and migrations from earlier Broadridge reconciliation products.
CRISP general manager Andreea-Beatrice Manea said: “Having a modernised, scalable reconciliation platform is critical for maintaining operational excellence and meeting regulatory requirements in today’s rapidly evolving landscape.
“Our longstanding relationship with Broadridge has consistently delivered value, and this upgrade to BRx Match provides us with the advanced technology we need to support our ambitious growth plans, all the while ensuring compliance with the latest industry standards.”
