BARCLAYS BANK AND KPMG USE CASEWARE IDEA® TO ACCELERATE ACCOUNTS RECONCILIATIONS.
Barclays is a global financial services provider with an extensive presence in Europe, the Americas, Africa and Asia. In this interview, Applications Manager, Innocent Scio, discusses how Barclays analyses 8 – 12 million records daily, using IDEA®, to quicken accounts reconciliations and perform data quality remediation across 13 African countries.
“Barclays trusts IDEA; it uses it for its Daily Reconciliation. Its capabilities are endless.”
Innocent Scio, Applications Manager, Barclays Bank of Kenya
CaseWare: Please indicate the current use of IDEA® at Barclays Bank of Kenya?
Barclays Bank of Kenya made the business decision to use IDEA® Server analytics for our internal accounts reconciliations. We currently run 400,000 records daily.
We are also using IDEA® in a Pan African project analysing reports from 13 countries. Every day, we are collecting between 8 – 12 Million records performing data quality remediation for these countries.
CaseWare: How did you start using IDEA?
Barclays started using IDEA during our systems migration in 2008. We were introduced to it as a tool capable of making comparisons on various data sets. This concept quickly grew into a Data Preparation sub-project. We were able to make quick comparisons of up to 800,000 records containing some 30+ fields and getting very accurate reports.
This led to our initial purchase and we started developing customised scripts. As we approached the migration cut-over, we acquired more user licenses.
CaseWare: What impact has IDEA had at Barclays?
Besides accounts reconciliations, we do comparison of customer data, product details and even account details and balances. It’s at the point that we stopped calling it a tool as it has become an integral system. Barclays trusts IDEA. Its capabilities are endless.
CaseWare: How has it been working with CaseWare IDEA and KPMG Kenya Advisory Services?
We appreciate the support we continue to receive from CaseWare IDEA and KPMG Management and are excited to know of the features of IDEA Version 9. The support and services from the KPMG consultants are consistently world-class and as such we look forward to a continued relationship.
CaseWare: What’s next for IDEA at Barclays?
We have other business processes that are considering the use of IDEA. A good example is the Credit Reference Bureau (CRB) Reporting process for both our Retail and Corporate divisions.
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