First Federal Bank - FrontierTM Reconciliation Fuels an Efficient, Accurate Financial Close and Greater Employee Satisfaction
First Federal Bank - FrontierTM Reconciliation Fuels an Efficient, Accurate Financial Close and Greater Employee Satisfaction
3 PagesCase Study First Federal Bank Frontier TM Reconciliation Fuels an Efficient, Accurate Financial Close and Greater Employee Satisfaction When First Federal Bank reached $2 billion in assets, its manual reconciliation processes could not keep up with its growth. Timeliness, data accuracy and exception management suffered, as did the overworked accounting team. So the bank implemented Frontier Reconciliation from Fiserv. When First Federal Bank acquired several financial organizations in quick succession, transactions skyrocketed. The bank grew from $500 million to $2 billion in assets and from nine branches to 24 branches. The burden of manual reconciliation processes became overwhelming and the accounting team worked extra hours to maintain account reconciliation. Brooke Han
