Fortune 500 Insurance Company Automates Account Certification in the Cloud
Pacific Life needed a more flexible, streamlined process for certifying hundreds of balance sheet accounts – one that also met its enterprise cloud strategy. With the hosted version of Frontier™ Reconciliation: Account Certification from Fiserv, Pacific Life was able to meet both demands.
For Pacific Life, certification was a time-consuming and manual task. Yearly, nearly eight million transactions were reconciled and then various teams across the enterprise certified the reconciliations using multiple Excel spreadsheets and attestation signoff papers.
By adding Account Certification, automated workflows manage review and approval processes for reconciliations. Inherent transparency and an effective audit trail make it easy to determine who signed off on certifications, despite the large number of users.
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