Broker Swinton Insurance, which is part of Atlanta Group, has signed an agreement with software specialist Aurum Solutions to automate its reconciliations. Swinton said the move would simplify the process of handling its complex ecosystem of daily payments to customers, insurers and third parties using various methods.

Jayne Logan, financial operations team leader at Swinton Insurance, said: “With Aurum, we now have so many different filters that we can easily extract the specific data we need in just a few clicks. What used to be a big job is now simple. The benefits of Aurum go beyond just banking reconciliation; it’s a huge time and money saver that enables us to focus on making improvements throughout the business.”

Tiago Veiga, CEO at Aurum Solutions, added: “Reconciliation is crucial for insurance companies. Insurers deal with high transaction volumes, complex data sources, and are subject to stringent regulatory requirements, yet many still use manual legacy processes for reconciliation.

“This places a huge strain on resources and makes it incredibly difficult to manage these transactions. Automation however leads to faster and more accurate reconciliation, enabling finance teams to spend more time on other strategic activities.”