Broadridge Financial Solutions has upgraded the reconciliation platform used by CRISP, the shared service centre of Raiffeisen Bank International, to BRx Match.
The move is intended to support CRISP's expanding operational requirements across markets in Europe and Asia, with the stated aims of improving efficiency, transparency and accuracy while reducing risk exposure.
The upgrade builds on a business relationship between CRISP and Broadridge that began in 2009. Under the new long-term agreement, the deployment is designed to accommodate a projected fourfold increase in transaction volumes across CRISP's operating regions. Andreea-Beatrice Manea, General Manager at CRISP, said the modernised platform is intended to support operational continuity and regulatory compliance as the organisation's growth plans progress, while Sandeep Saggi, General Manager, Regulatory Solutions and Data Control at Broadridge, described the expanded relationship as reflective of the company's capacity to support multi-market reconciliation requirements.
In addition, BRx Match operates on a cloud-based architecture and is built to provide automation capabilities, exception management functionality, and integration with the ISO 20022 messaging standard, which is used across the payments industry for structured financial data exchange. With this in mind, the platform will support CRISP's operations across 14 markets in total, including the DACH region, Central and Eastern Europe, and Asia. Broadridge stated that this includes both new implementations and migrations from CRISP's previous reconciliation solutions.
Industry context
Reconciliation infrastructure has become a growing area of focus for banks and shared service organisations operating across multiple jurisdictions, as institutions face pressure to manage increasing transaction volumes alongside evolving regulatory expectations. The adoption of ISO 20022-aligned messaging is part of a broader industry shift, as payment market infrastructures in several regions transition to the standard for cross-border and domestic payment messaging. For shared service centres such as CRISP, which process transactions on behalf of a banking group operating across several countries, scalable and standardised reconciliation tools are positioned as a means of managing operational risk while supporting business expansion.
The agreement between CRISP and Broadridge extends a relationship spanning more than a decade and reflects a continued reliance on third-party technology providers for core back-office functions such as reconciliation, as financial institutions weigh in-house development against vendor-supplied infrastructure for regulatory and operational processes.
