- Project will replace legacy bank reconciliation system
Aurum Solutions (www.aurum-solutions.com) announced that The Nottingham, a UK mutual building society, has selected GroupIT to replace its legacy bank reconciliation system. The new software solution brings a modern approach to data matching and will enable The Nottingham to improve automation and management of bank reconciliations.
The Nottingham employs over 400 staff in more than 30 branches throughout Nottinghamshire, Lincolnshire, Derbyshire and South Yorkshire. It had used a desktop reconciliation system for many years but that software had not evolved to keep pace with The Nottingham's changing business requirements. The building society therefore evaluated a number of different vendors and systems before deciding to work with Aurum Solutions.
Eddie Inskip, Financial Systems & Forecasting Senior Manager, The Nottingham Building Society said, "We chose GroupIT from Aurum Solutions as it offered us a modern and future proof reconciliation system. It looked easy to use and could cope with any of our reconciliation requirements."
Helen Belcher, Managing Director of Aurum Solutions concluded, "Many financial services organisations still rely on outdated technology to manage the sometimes tedious yet vital area of reconciliation. A reconciliation system can deliver measurable value by improving efficiency, freeing up staff time and adding audit and control, all of which help institutions such as The Nottingham to simplify the reconciliation process and swiftly resolve any exceptions."