A suite of fully integrated accounts reconciliation modules
CLIREC is a suite of fully integrated accounts reconciliation modules with multi-currency and multi-lingual capabilities that gives organizations complete control of all reconciliation functions and process.
The modular nature of the CLIREC suite allows corporate entities to select those functions needed to increase operational control and effectiveness. CLIREC is enhanced and upgraded on an ongoing basis. With a foundation of leading- edge technology, CLIREC enable companies to reap the rewards of a more efficient operation. Business areas of application include:
- ATM & EFT Products Reconciliation
- Bank Accounts Reconciliation
- Accounts Proofing
- Finance Costs Adjustment
- Non-financial reconciliation
We provide strategic, transformational, and technical offerings in software consultancy and design.
- Clirec benefits
Our approach to risk and compliance consulting
Efficiency and Effectiveness
Accuracy and timeliness of information is very vital to effective decision-making process. CLIREC provides a means of achieving both efficiency in and effectiveness of account reconciliation process.
Investigations
In as much as reconcilable accounts are involved, CLIREC assist management in digging deep into previous reconciliation exercise.
Data and Reports Integrity
CLIREC assists in ensuring the integrity and completeness of data used in reconciliation exercises as well as the confidentiality of results of reconciliation. this is because reconciliation reports produced by the system are based on the reconciliation process and the results are taken out of the hands of the user.
Manpower Development
As is becoming of any computerized process, the use of CLIREC ensures low personnel requirement for account reconciliation exercise as the process now becomes less manual intensive and as much as twelve times faster than manual situations.
- PFS Ltd's Success in Systematisation and Automation
Expected loss reduction
We assisted a leading commercial bank with risk management and compliance, resulting in reduced exposure, lower pilferages, and increased profitability. After consultation and deployment of automation tools, we successfully reduced the client’s exposure by over one-third and mitigated expected losses by approximately 85%.
Uplift
A global bank partnered with us to enhance its accounts reconciliation process, which improved its asset and liability management operating models and liquidity. Through this transformational engagement, we revised the client’s behavioural models and reporting strategy.
Banks
We designed and implemented a global integrity and compliance process for banking operations that has improved customer satisfaction. The program focused on implementing processes and deploying simple automation tools in bank branches, thus strengthening process compliance through a connected network architecture. Through diverse communication, training, and enablement initiatives, we engaged all employees on the path to achieving sustainable culture change.
