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Transparent dashboard boosts Skandia compliance

Antony Savvas

Offshore savings firm Skandia International is improving its compliance capabilities with CheckFree’s Accurate NXG Dashboard platform.

The system will add an extra level of transparency to Skandia’s reporting processes, enabling it to comply more easily with regulations such as Sarbanes-Oxley.

Accurate NXG Dashboard will increase transaction transparency by enabling Skandia to submit a summary of the reconciliation for sign-off by a senior manager during transactions, while maintaining a clear audit trail of each step in the reconciliation process.

The dashboard will also improve operational and administrative controls to support the segregation of duties as recommended by regulations in the UK and Europe. 

Using the dashboard technology, Skandia staff in the Isle of Man and Dublin will have direct access to exceptions information, improving the investigation and resolution of transaction errors and ultimately reducing the incidence of errors while speeding processing time. 

Skandia International is part of the Skandia UK Group, which has been of CheckFree customer for nine years.

 

Comment on this article: computer.weekly@rbi.co.uk

 

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