Overview
A Tier 1 asset servicing firm managing cash and securities reconciliations across a 1,200-person operations team deployed Smart Agents to codify fragmented manual processes and eliminate dependency on email-driven workflows across disconnected systems.
Challenge
The firm’s reconciliations operations spanned multiple disconnected systems, with email used as the primary communication channel for exception management and counterparty correspondence. This created a high degree of human dependency throughout the process, compounding attrition risk as institutional knowledge resided with individual staff rather than being systematically captured. At scale, the combination of fragmentation and manual handoffs made consistent, auditable process execution increasingly difficult to sustain.
Solution
The firm implemented Smart Agents to codify its reconciliations workflows and replace email-dependent processes with structured, autonomous agent execution. Smart Agents captured existing institutional knowledge and standard operating procedures, enabling agents to investigate exceptions, retrieve data from connected systems, send structured counterparty communications directly, and close cases with a full audit trail, reducing reliance on individual expertise and creating a repeatable, scalable operational model.
Benefits
Smart Agents codified 90% of the firm’s reconciliations processes, transforming previously undocumented, person-dependent workflows into governed, auditable agent-executed operations. The dependency on email as a primary coordination mechanism was eliminated, materially reducing attrition risk and improving process consistency. The engagement is projected to deliver $64 million in three-year operational savings, representing the firm’s most significant reconciliations transformation programme to date.
