CAD IT: A New Generation Tool for Reconciliations

CAD IT: A New Generation Tool for Reconciliations

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Paolo Dal Cortivo, CEO, CAD ITPaolo Dal Cortivo, CEO
The finance industry has gone through some of the most technology-induced disruptive changes in the past four decades, which has unearthed a vast amount of data flows of various nature, form, and volume. As a result, numerous tools have been designed over the years, aimed at solving specific reconciliation and exception management tasks, without taking a holistic view of the risks. CAD IT is here to reshape this reality. Leveraging over four decades of experience in managing finance processes, CAD IT offers financial solutions in tune with new market demands and customers’ needs. The company caters to a wide variety of financial institutions such as banks, insurance companies, investment fund organizations, brokers, IT outsourcers, public administration, and manufacturing companies.

CAD IT’s flagship product, Area Finanza, is a securities, trading, and post-trading process management system that enables total automation of all processes relating to finance products, cross assets, including the whole back office activities like reconciliations, master data management, settlement, corporate actions, etc. In accordance to the rising focus on reconciliation for making accurate decisions based on financial information, CAD IT developed Easy Match, a reconciliation tool capable of reconciling three areas of business: security holdings, cash transactions and every type of flow like derivatives or money market, forex, and static data. Why Easy Match? Easy Match is multitenant application that concentrates information in a single point and allows the user to full customize and design its own reconciliation. Furthermore, it is developed to run in a multi-language system including powerful reporting tools, such as PDF/Excel/CSV output format but also user defined reports. The four-eyes principle is also part of the core of Easy Match, to ensure a lower risk of errors; in addition, every action within the application is tracked with an advanced logging system.

Easy Match is designed to substitute various reconciliation and investigation packages and deliver efficient high volume data processing to stay at par with the rising volume of data

The solution also includes an integrated investigation tool that can be used to keep track of all the actions to find the cause of a mismatch. “Available as a standalone product or as an integration to the Area Finanza solution, Easy Match is designed to substitute various reconciliation and investigation packages and deliver efficient high volume data processing to stay at par with the rising volume of data,” explains Gianluca Dalla Vecchia, Team leader and Technology Architect, CAD IT.

Extending the reconciliation scope and the possibility of designing new reconciliation types, Easy Match also exhibits the ability to define and progressively develop complex matching logic. One of the main advantages of CAD IT’s Easy Match is that reduces the vendor lock-in allowing the users to parametrize matching rules and providing a full life-cycle process monitoring which enables their clients to achieve over 96 percent matching rate. The implementation of Easy Match takes anywhere between two weeks to four months, depending on the size and requirements of the client organization. In addition, CAD IT is also able to provide Easy Match as software as a service. At present, CAD IT has 200,000 global users leveraging its solution portfolio, Easy Match is running in an international context, with the main installations in Germany on two of the most important banks. With an unwavering commitment to delivering solutions to the problems of the finance world, CAD IT takes pride in never losing a customer until date.

Since its inception, CAD IT has been at the forefront to enable digital transformation for clients. The company is currently driving innovations by leveraging robotic process automation and machine learning to improve the automatic matching rate of their reconciliation tools. The next release of the Easy Match is slated for launch in the Q4 of 2019, and will demonstrate improved data processing through machine learning.

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Verona, Italy

Paolo Dal Cortivo, CEO

Backing over 40 years of experience, CAD IT is a dynamic Italian technology company with a leading position in financial services software. Area Finanza, the business’s flagship product, is viewed as the gold standard with a 90% share of the Italian securities processing market. With continuing product development, Area Finanza has now been implemented successfully internationally at leading financial institutions in Europe. Area Finanza offers total automation of all processes relating to derivatives and securities in the following macro-areas: position keeping, custody, and administration, corporate actions, order management, trading rooms, securities master database, settlement, asset management, reconciliations, repos, know your customer, financial advice and reporting. The enterprise’s customers include banks, insurances, funds, brokers, outsourced service providers, national authorities, and enterprises