Commonwealth Bank of Australia (CommBank), the nation’s largest bank, chose FIS to streamline reconciliations through FIS Data Integrity Manager.
In a banking environment, reconciliation ensures financial accuracy by verifying millions of daily transactions across complex systems. The fully-hosted solution will process over 150 million transactions per day.
FIS Data Integrity Manager delivers a modernized platform that supports the automation and management of all reconciliations across the enterprise.
The platform uses real-time visibility and insights for more informed decision making, with automated alerts for discrepancies and a unified view across business lines—enabling teams to identify and resolve issues in minutes.
Delivered as Software as a Service (SaaS) via Microsoft Azure, upgrades to the solution will be managed by FIS, to support faster delivery of new capabilities.
The platform’s architecture enables the processing of exceptionally large data volumes in minutes rather than hours.
The engagement also leverages FIS’ enterprise-grade risk, security, and compliance capabilities, including SOC1 and SOC2 certifications, while supporting CommBank’s federated software architecture.
“FIS is proud to partner with CommBank to deliver a cutting-edge reconciliation solution that meets the demands of a rapidly evolving financial landscape,” said Andrés Choussy, president of capital markets at FIS.
“By bringing reconciliation onto a single, intelligent platform, we are enabling CommBank to unlock seamless integration and operational efficiency while ensuring the stability, security, and compliance essential to supporting Australia’s largest bank,” said Choussy.
David Pont, general manager of financial control and transformation at CommBank, said this implementation reflects their focus on investing in technology to continue to strengthen operations to ultimately benefit their customers.
