National Bank of Vanuatu Case Study

The Challenge: Manual Processes Hindering Growth

As the leading financial institution in Vanuatu, the National Bank of Vanuatu (NBV) is committed to driving economic progress. However, their growth was hampered by significant operational inefficiencies. The bank's reconciliation processes were almost entirely manual, relying on complex spreadsheets and a large finance team. This not only consumed thousands of man-hours but also led to a high risk of errors, delayed financial closing, and limited visibility into critical financial data. The lack of a robust, automated control framework was a major roadblock to their strategic goals of innovation, expansion, and managing complex correspondent banking relationships.

The Solution: A New Vision for Reconciliation with Reconwizz

NBV sought a partner, not just a product, to help them realize a new vision for financial control. Reconwizz was selected to implement a strategic overhaul of their reconciliation framework. This was a collaborative effort to re-engineer processes and deploy a state-of-the-art technology platform.

• End-to-End Automation: We implemented a fully automated solution for Nostro accounts, complex internal suspense accounts, and high-volume digital channel transactions, eliminating manual work entirely.
• A Centralized Hub: The Reconwizz platform became the single source of truth for all reconciliation activities, integrating seamlessly with NBV's core banking system, SWIFT, and other data sources.
• Intelligent Matching Engine: Our powerful, AI-assisted rules engine was configured to handle the complexities of multi-currency international transactions and diverse payment types, achieving near-perfect auto-match rates from day one.
• Actionable Insights: Executive and operational dashboards provided unprecedented, real-time visibility into financial positions, aging breaks, and team performance, enabling proactive decision-making.

This holistic approach didn't just automate tasks—it fundamentally changed the bank's operational capabilities and instilled a new level of confidence in their financial data.