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Nouvobanq is one of the leading financial institutions in Seychelles, offering a suite of products and services spanning Retail and Corporate Banking, Foreign Exchange and Treasury. The bank was looking for a next-generation solution to transition from manual reconciliation processes to a fully automated, end-to-end approach. This includes reconciliations for Nostro/Vostro accounts, ATM and POS transactions, General Ledger (GL), and other financial data.
Following a competitive selection process, the bank chose Validata to automate its reconciliation processes, aiming to boost efficiency and provide Finance and Operations teams with a centralized platform for daily reconciliation tasks.
ConnectIQ is an all-in-one 'super-app' for real-time, end-to-end reconciliations with capabilities such as data consolidation, transaction-level matching, automated exception handling, payment investigations, and case management. It is data and system agnostic, which means it is able to connect, pull and integrate transaction and balance-level data from any source and in any format.
The platform can dramatically reduce the risks by automating and simplifying the entire reconciliation process to monitor, validate, enrich and match data coming from different sources, through end-to-end automation, AI-powered transaction matching, automated exception management and real-time insights into reconciliation and transaction management statuses, all-in-one.
The implementation of ConnectIQ will future-proof Nouvobanq’s reconciliation operations—further enhance risk controls, improve operational efficiency, and enable scalable growth.
Christophe Edmond, Chief Executive Officer at Nouvobanq commented, “Modernizing our reconciliation processes is critical to improving productivity, reducing costs, and ensuring compliance. Validata stood out with its combination of next-generation AI-powered technology and deep domain expertise. We look forward to leveraging their platform to drive continuous process improvements across our operations.”
Vaios Vaitsis, Founder and CEO of Validata Group added, ‘We are delighted to partner with Nouvobanq and we look forward to working closely with them in modernizing their operations. In a world of complex data flows, we enable banks to unify their financial data and achieve better visibility of cash movements, improve liquidity management, and reduction of risks.’
About Nouvobanq:
Nouvobanq was founded in 1991, as a joint venture between the Government of Seychelles and Standard Chartered Bank. It is licensed by the Central Bank of Seychelles and is classified as one of the top three local banks. Nouvobanq’s main bank offerings are to the Corporate and Retail market segments, with services spanning over Cards, Foreign exchange, Loans and Advances and Cash.
For more information visit: www.nouvobanq.sc
GIANNOPOULOU MARIA
Validata Group
+30 21 0894 1433
email us here
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