The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

RBC Dexia Selects BCS Arc to Enhance Network Management Control

Business Control Solutions (BCS), provider of management consultancy services and financial control software to the financial services sector, today announced that RBC Dexia Investor Services, has selected BCS Arc to centralise and reconcile its agent network management data. The solution is due to go live in July this year.

Prior to selecting BCS Arc, RBC Dexia used a combination of in-house systems for its agent bank fee controls. As part of a drive to increase automation, controls and visibility, the firm surveyed the market for suitable offerings.

Tim Wood, head of network management at RBC Dexia, said: “We chose BCS Arc because it proved to be the strongest solution available that would address our challenging requirements. This will form an important part of control and efficiency improvements across our network management operations. It will also enhance the level of transparency and management information we can provide to our clients.”

BCS Arc will be used as a data repository for all internal and external relationship entities, contacts, contracts, agent fee schedules and invoices. It will enable RBC Dexia to electronically compare invoiced fees with a synthetic invoice produced by the software to validate the accuracy of invoiced amounts. The system will also provide “What If?” analysis to enable RBC Dexia to compare fees across multiple service providers and model alternative charging mechanisms, supporting the renegotiation process.

Ted Sparrey, head of sales at BCS, commented: “Carrying out these checks within the network management function represents an increasingly important financial and operational control process. With this investment, RBC Dexia will be empowered to reduce erroneously invoiced payments, and be better positioned to control and reduce agent bank fees and internal costs. We look forward to working with the RBC Dexia network management team and helping them reap the benefits of BCS Arc.”

Related content

WEBINAR

Recorded Webinar: Solvency II

This webinar has passed, but you can view the recording by registering here. Tying in with the launch of the Solvency II Handbook at our DMS NYC event last month, this webinar discusses current data management issues with Solvency II and practical approaches to solving issues. Speakers: Sponsors:

BLOG

Reformis Adds Matrix IDM and NeoXam to Vendor Partner Programme

Reformis, a buy-side business transformation consultancy, continues to build out its vendor partnership programme with the addition of Matrix IDM’s cloud native data management software, and NeoXam’s Impress reporting solution. These join the company’s list of existing partners and products including IHS Markit’s EDM software, Snowflake’s cloud data platform, and Compliance Solution Strategies’ Accudelta product....

EVENT

Data Management Summit USA Virtual

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...