- Customer Success Story -

Enhancing Reconciliation and Settlement Processes at Prudential Bank Ltd


Transforming Prudential Bank’s Reconciliation Journey

arbutus_prudential-bank_colourPrudential Bank Ltd  (PBL) a leading 100% Ghanaian bank commenced business in August 1996.  A Truly Dependable Bank that consistently offers unique financial solutions to its diverse range of customers. 
Since incorporation, PBL has successfully operated as a full service licensed universal bank, that stands committed to playing a positive and innovative role in the financial intermediation process.  Most importantly, committed to provide world class, innovative & customized products and services that suit the peculiar needs of their customers with an exceptional drive for quality and an unparalleled passion for delivering excellent customer service.

Client Profile: 

Company: Prudential Bank Ltd. Ghana
Industry: Banking
Contact Name: Bright Osei-Boateng (Mr.), eSettlement and Reconciliation Officer
Duration at Company: 20 years

Challenge: Manual Reconciliation Blues

Bright Osei-Boateng, the experienced eSettlement and Reconciliation Officer, was aware of the gravity of this challenge. His team labored intensively, cross-referencing records, scrutinizing spreadsheets, and contending with fatigue-induced errors. The backlog continued to grow, posing a significant threat to their operational efficiency.

The Data Backlog Dilemma
As the data backlog accumulated, Prudential Bank recognized the urgent need for a solution—a guiding light to navigate them out of the complexities of manual labor.

The Quest for Efficiency
Prudential Bank’s search for an efficient solution commenced under the leadership of Mr. Osei-Boateng. His criteria were clear:

  • Automation: The solution must automate reconciliation processes, liberating the team from repetitive tasks.

  • Speed: Settlement processes needed to be expedited to enhance overall operational efficiency.

  • Reliability: Ensuring data integrity was paramount; the solution had to be error-free.

What other challenges were faced during this process?

During the reconciliation process, Prudential Bank Ltd. encountered challenges beyond manual reconciliation and data backlog:

  1. Data Complexity:

    • Financial data intricate, with various formats and sources.
    • Ensuring accurate matching required handling diverse data structures.
  2. Legacy Systems:

    • Prudential Bank’s existing systems might not seamlessly integrate with new solutions.
    • Arbutus needed to bridge the gap between legacy and modern technology.
  3. Change Management:

    • Employees had to adapt to automated processes.
    • Training and communication were crucial to ensure smooth implementation.


Prudential Bank Ltd opted for Arbutus, a robust data analytics platform. Here’s how Arbutus addressed their challenges:

  • Automated Reconciliation:

    • Arbutus streamlined reconciliation by automating data matching.
    • It compared Third-Party Providers’ (TTPs) data against CBA records seamlessly.
    • Manual reconciliation efforts were significantly reduced.
  • Eliminated Manual Entry:

    • Arbutus removed the need for manual data keying.
    • Human errors associated with manual entry were eliminated.
    • The bank no longer faced data backlog due to manual processes.
  • Enhanced Data Integrity:

    • Arbutus ensured accurate data matching.
    • By automating reconciliation, Prudential Bank achieved consistent results.
    • Data integrity improved, leading to reliable financial processes.

Arbutus emerged as the solution, transforming the reconciliation landscape.


Transformed financial processes, saving time, ensuring data integrity, and maximizing value

  1. Time Savings:

    • Manual tasks were reduced by 95%.
    • Faster reconciliation and settlement processes.
    • Turnaround time significantly improved.
  2. Data Integrity:

    • Arbutus ensured accurate data matching.
    • Eliminated human errors in reconciliation.
    • Enhanced overall process reliability.
  3. Value for Money:

    • The investment in Arbutus paid off.
    • Operational efficiency improved.
    • Seamless solution with cost-effectiveness.

In addition to the efficiency gains, Prudential Bank Ltd. enjoyed several other benefits with Arbutus:

  1. Data Accuracy:

    • Arbutus ensured precise data matching, reducing discrepancies.
    • Reliable financial reporting became the norm.
  2. Reduced Operational Costs:

    • Manual processes were costly in terms of time and resources.
    • Arbutus streamlined operations, leading to cost savings.
  3. Scalability:

    • As Prudential Bank expanded, Arbutus adapted seamlessly.
    • The solution grew with the bank’s needs.
  4. Risk Mitigation:

    • Arbutus minimized the risk of errors and fraud.
    • Compliance and audit processes improved.
  5. Improved Decision-Making:

    • Accurate data empowered informed decisions.
    • Prudential Bank steered confidently towards its goals.

Arbutus became more than a solution—it was a strategic partner in Prudential Bank’s success.

The impact of Arbutus on data accuracy for Prudential Bank Ltd.

  1. Precise Data Matching:

    • Arbutus ensures accurate reconciliation by comparing data from Third-Party Providers (TTPs) against CBA records.
    • The automated process minimizes discrepancies, reducing the risk of errors.
  2. Elimination of Human Errors:

    • Manual data entry often leads to typos, omissions, and inconsistencies.
    • Arbutus banishes these errors, maintaining data integrity.
  3. Consistent Results:

    • Arbutus’s automated approach consistently applies reconciliation rules.
    • Prudential Bank can rely on uniform outcomes, enhancing trust in their financial processes.
  4. Reliable Financial Reporting:

    • Accurate data translates into reliable financial reports.
    • Regulators, auditors, and stakeholders benefit from trustworthy information.

In summary, Arbutus’s impact on data accuracy is profound.

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Transforming Prudential Bank’s Reconciliation Landscape

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