Modern banking depends on the ability to process millions of transactions accurately and at speed, yet reconciliation remains one of the most complex and resource-intensive functions inside financial institutions. As payment volumes grow and regulatory standards evolve, banks are increasingly replacing legacy back-office systems with cloud-native platforms that can automate data matching and reduce operational risk. Raiffeisen Bank International’s decision to expand its use of Broadridge’s BRx Match platform reflects a broader industry shift toward scalable reconciliation infrastructure built for the ISO 20022 era and the demands of global transaction processing.
Global financial technology provider Broadridge Financial Solutions, Inc. (NYSE: BR) has announced a major infrastructure agreement with Centralised Raiffeisen International Services & Payments S.R.L. (CRISP), the shared service centre for Raiffeisen Bank International (RBI). Under the terms of the multi-market expansion, CRISP will migrate its transaction reconciliation workflows onto BRx Match, Broadridge’s next-generation, cloud-based data integrity and matching platform. The structural upgrade is designed to streamline transaction processing, enhance internal exception management, and ensure comprehensive compliance with emerging messaging frameworks across both European and Asian banking corridors.
The institutional rollout addresses a critical, high-volume capacity challenge within international back-office operations (DataOps). As multi-currency transaction volumes accelerate across borders, financial intermediaries face severe operational strains when attempting to reconcile fragmented payment records, matching ledgers, and institutional asset statements. Legacy, on-premises reconciliation setups frequently struggle to parse dense, information-rich transaction fields without creating costly processing breaks or requiring manual data intervention from back-office engineers. CRISP will utilise the scalable cloud architecture of BRx Match to absorb a projected fourfold increase in transaction traffic, deploying automated matching models to maintain strict data integrity across its operational pipeline.
A primary technical driver behind the system migration is the universal banking shift toward the ISO 20022 messaging standard. Unlike legacy, text-based SWIFT MT formats, ISO 20022 introduces structured, XML-based data rules that require ingestion systems to seamlessly parse rich metadata fields, including detailed remittance facts, multi-party ultimate debtor references, and comprehensive regulatory purpose codes. BRx Match natively integrates with these complex data schemas, allowing the system to handle real-time intersystem matching, execute point-in-time validation checks, and flag format mismatches instantaneously. By converting data onboarding into an automated process, the platform minimises settlement risks while helping the clearing house isolate and resolve transactional breaks before they affect downstream clearing. The long-term software contract builds upon an established technology partnership between Broadridge and CRISP that dates back to 2009. The updated deployment will support unified treasury and clearing operations across a total of 14 distinct global markets, encompassing the DACH region (Germany, Austria, and Switzerland), Central and Eastern Europe (CEE), and multiple high-growth trading hubs in Asia.
Andreea-Beatrice Manea, General Manager at CRISP, stated that deploying a modernised, cloud-native matching framework is essential for maintaining operational excellence and satisfying changing regulatory audits within a fast-moving macroeconomic environment. Sandeep Saggi, General Manager of Regulatory Solutions and Data Control at Broadridge, added that the enterprise expansion underscores the platform’s capacity to handle highly intricate, multi-jurisdictional financial data control workflows, giving tier-1 banking institutions a robust technical foundation to scale their transaction processing footprints safely.
What it means for the industry
- Cloud-native back-office infrastructure is becoming the new standard, replacing legacy reconciliation systems that struggle to handle growing transaction volumes and richer payment data.
- ISO 20022 migration is driving technology investment, as banks require platforms capable of processing structured payment messages without increasing manual intervention.
- Operational resilience is becoming a competitive advantage, with automated reconciliation helping institutions reduce settlement failures, processing delays, and exception management costs.
- Shared service centres are evolving into strategic technology hubs, enabling banking groups to standardise operations across multiple countries and business units.
- Data quality is becoming as important as transaction speed, with accurate matching and validation reducing downstream compliance, audit, and regulatory risks.
- Banks are increasingly investing in scalable operational platforms, ensuring they can support future growth without proportionally increasing back-office staffing or infrastructure costs.
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