Banco Popular North America, the US banking subsidiary of Puerto Rico-based Popular Inc., one of the countrys 30 largest financial institutions, has selected Accurate Softwares Operational Risk Management solution, Accurate NXG, to reconcile its cash and internal ledger accounts. Accurate NXG will help Banco Popular North America identify and resolve exceptions more quickly, helping the company reduce its exposure to operational risk. Accurate NXG combines Accurates core competencies of reconciliation, exception management, workflow and business intelligence. Accurate NXGs business intelligence Dashboard will provide complete visibility of all transactions for Banco Popular North America and will continually alert managers to critical areas of potential loss, enabling them to take pre-emptive action. The project to deploy Accurate NXG within Banco Popular North America began in November 2004 and is due to go live by May 2005. Accurate NXG will automate the banks reconciliation and exception management processes, which were previously based on Excel spreadsheets. A direct interface to Banco Popular North Americas core processing banking solution will enable all relevant data to be automatically extracted and reconciled against the appropriate correspondent bank accounts. Accurate NXG is being deployed at Banco Popular North America in a Windows/SQL server environment. Based on an open architecture offering platform and database independence, Accurate NXG provides maximum flexibility, enabling the bank to migrate to other platforms in the future as volumes increase or the banks requirements change.
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