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    • Mar 26
    • 2 min read

Benefit from Data You Can Trust with CC1 Data Reconciliation


A header image in blue representing digital data. On a translucent relief, the headline reads "Data Reconciliation: Can you trust your digital archive?". The image introduces the blog content that explains data reconciliation, explores customer pain points regarding data capture, and shows the benefits of data reconciliation.


Regulated industries need accurate and verifiable records.


Reputations can depend on thorough record-keeping, as recent action in the US by the Office of the Comptroller of the Currency (OCC) makes clear. Read our blog on the $250 million fine issued to a tier-one bank.

 

However, data capture is fraught with challenges that hinder the transformation of raw data into complete and accurate records.


Fortunately, data reconciliation exists to provide data accuracy, integrity, and consistency.


Let's take a closer look ⬇



What is Data Reconciliation? 


Data reconciliation is a process for verifying data during data transfers. During data reconciliation, transferred data is compared with source data to ensure complete and accurate data is transferred to create a reliable digital archive. The process is paramount to regulated industries that rely on accurate and verifiable records.



Why does Data Reconciliation Matter?


Don't be fooled. Data reconciliation isn't just a tick-box on a compliance list. It's a fundamental requirement for maintaining accurate and reliable data across systems and archives.


  • Anomaly Detection: Data reconciliation spots anomalies and irregularities in your data.

  • Fraud Prevention: Data reconciliation detects fraudulent activities by identifying inconsistencies in transaction records. 

  • Regulatory Compliance: Data reconciliation can help your data to meet industry-specific standards. 

  • Streamlined Operations: Data reconciliation assists smooth operations with data you can trust.

  • Improved Data Quality: Data reconciliation upgrades the quality of your data assets by consistently verifying and validating data. 

  • Informed Decision-Making: Data reconciliation ensures you base data-driven decisions on complete and accurate data records.




A breaker image in blue and purple representing digital data. On a translucent relief, the headline reads "Data Reconciliation: which service gives you more?". The image introduces the content that explores why CC1, powered by Custodia, is the ideal choice to capture, reconcile, validate, normalize, and archive digital regulated data.



We believe the service that excels at data reconciliation is CC1 powered by Custodia. Read on to find out why.


Near-Real-Time Reconciliation 

CC1 stands out by conducting near-real-time data reconciliation. This means captured data is checked almost immediately rather than at the predetermined intervals of some solutions (often every 24 hours). CC1's proactive approach enables you to address discrepancies quickly, minimizing disruptions and potential data loss. Additionally, near-real-time monitoring allows continuous behavior analysis, facilitating early anomaly detection.

An Archive You Can Trust

Streamlining the Process


CC1's reconciliation process offers more than just the data accuracy demanded by regulatory obligations. The service provides a trustworthy archive of clean and verified data for governance purposes that also delivers the potential for intense data analytics, artificial intelligence (AI), and machine learning (ML) via third-party platforms.


CC1 gives you a regulated digital data archive you can trust.


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