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Navigating the complexities of internal client money reconciliations

Posted by Murray

48 days ago

The strength of any financial organisation hinges on its ability to manage data effectively. In the financial services sector, where data permeates every facet of business operations, efficient data management is crucial for maximising value and minimising operational costs. Reconciliations are a fundamental control mechanism for finance and accounting. Organisations that fail to modernise their reconciliation process risk overwhelming their finance and operations teams with cumbersome manual tasks and data overload. As UK regulators adopt a more data-centric approach, effective data management has become essential for compliance. For many firms, the internal client money reconciliation (ICMR) is one of the most complex elements of CASS 7.

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