Deutsche Bank (Frankfurt) has implemented the Integrity account substantiation service from Business Control Solutions (London) for its business in the UK, Europe, Asia and the Americas. Integrity is designed to provide increased transparency of account ownership and early identification of high-risk balances to help further reduce risk.
BCS Integrity is providing Deutsche Bank with a common platform that services both finance and operations, to drive ownership, efficiency and transparency with a lower cost of ownership. All global account data is stored in a single system, so management can quickly identify areas of concern for immediate follow up.
Account substantiation shows the results of reconciliation, ensuring that account balances are complete, accurate and verified. BCS Integrity manages and standardizes the reporting of the account substantiation process, enabling banks to take a consolidated view and identify potential problems across functions, asset classes and regions.
Integrity provides audit trails over the end-to-end account sign-off process. The account ownership tools helps eliminate ambiguity over the account status or the person accountable. Instant access to balances and P&L exposure enable management to quickly address any high risk issues and make decisions based on timely information.