Efficient reconciliation

SEI, a provider of outsourced investment business solutions, has chosen Mobius Management Systems to automate its account reconciliation process.

SEI is deploying Mobius' ViewDirect-ABS to reconcile institutional accounts in its Private Banking and Trust segment. The software automates the balancing and reconciliation processes, which tend to be error prone when performed manually, according to a recent press release from Mobius. The solution is part of ViewDirect TCM integrated content management suite.

With SEI's previous method, reconciling data from many sources against the core accounting and trust processing system was expensive and could take as long as 25 days to complete for one client. Testing has indicated that the new solution will be less labor-intensive, reducing processing times significantly and increasing operational efficiency.

Mark Nagle, senior VP or operations at SEI, says, "Automating reconciliation with ViewDirect-ABS will not only reduce staff requirements, but will also enhance the quality of the service we deliver to our clients. In addition, we can continue to focus our talented resources on activities that deliver additional value to our client base."