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Knab goes live with ReconArt reconciliation technology

ReconArt announces the go-live of its ReconArt™ Total Reconciliation Lifecycle™ platform at the Netherlands’ latest bank.

Arlington, VA, USA and London, UK (October 2012) —ReconArt announces the successful implementation and go-live of its ReconArt™ reconciliation solution at Knab, the latest online and mobile-centric bank launched recently in the Netherlands and backed by insurance giant AEGON.

As the nascent bank that was to become Knab was building its operations infrastructure it recognized the need to put in place secure foundations to ensure the smooth running of all its operations. Central to this was deployment of reconciliation technology to guarantee the accuracy of its clients’ transactions and balances by matching data from multiple internal and external sources on a timely basis. Knab scoured the market for a solution that would meet its needs on day one and scale in the future as its client base and footprint expands. After a detailed evaluation of multiple vendor solutions Knab chose ReconArt as its trusted partner. Ease of deployment without compromising functionality or future scalability, coupled with proven gateways to standard data sources, were key considerations, not to mention low total cost of ownership and high return on investment.

“Easy implementation, easy to work with, automates the tedious jobs and frees up valuable time to focus on sorting out differences – just the right tool to be in control” is how Marco van Bakel, Knab’s Controller, sums up the ensuing deployment of the ReconArt™ solution.

As ReconArt continues to expand its client base in multiple geographies Nicolo Nisbett, ReconArt’s Executive Vice President responsible for global sales, states “The flexibility that ReconArt™ offers in terms of either in-house or cloud deployments, coupled with extreme ease of initial implementation and downstream expansion, made ReconArt™ the ideal platform. We are delighted to have Knab join our rapidly growing community of clients.

” About ReconArt ReconArt is the dedicated-focus provider of ReconArt™ the 100% web-based Total Reconciliation Lifecycle™ solution. ReconArt™ provides an enterprise-class, rapid-to-deploy solution covering everything from daily matching and exception resolution to period-end account reconciliation.

About Knab Knab, funded and backed by one of the world’s largest insurers, AEGON, is the latest bank launched in the Netherlands focused on delivering its clients an online, mobile-centric, transparent and personalized banking experience.

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