Fiserv, Inc. has announced Frontier: Case Manager, a case management solution which it says is designed to automatically identify, assess and prioritise potential reconciliation exceptions, trade breaks and other process failures in a real-time. By adding the case manager functionality to its Frontier solution, the company says that customers will be able to fully automate the processing and escalation of exceptions - leading to improvements in efficiency and audit control.
Frontier: Case Manager leverages Microsoft Visio, enabling non-technical users to define workflow process removing the need for programming and eliminating reliance on the software provider to add or change flows as their business grows and evolves.
Fiserv says the infrastructure eliminates the risks associated with manual exception processing through the provision of an audited repository for all exception resolution related documents, with full access controls. The adoption of Frontier: Case Manager they say will also reduce operational costs related to charge-backs, write-offs, failed trades and lost interest claims.
“Transaction level exceptions represent one of the most significant manifestations of risk in any organization. Exceptions handling and research is often comprised of disparate and sub-standard functions encompassing e-mail exchanges, sharing of spreadsheets, undocumented conversations and other semi-automated processes,” said Nolan Gesher, senior product manager, Financial Control Solutions, Risk & Compliance, Fiserv.
