Broadridge lands CRISP reconciliation upgrade deal

Broadridge has deployed its BRx Match reconciliation platform for Centralised Raiffeisen International Services & Payments, extending a relationship between the two groups that dates back to 2009.

Centralised Raiffeisen International Services & Payments, known as CRISP, is the shared service centre for Raiffeisen Bank International. It upgraded its reconciliation system to support rising transaction volumes and comply with ISO 20022 messaging standards across markets in Europe and Asia.

The deployment covers both new implementations and migrations from earlier reconciliation systems already used by CRISP, marking another step in the long-running relationship between the companies.

CRISP operates across 14 markets, including the DACH region, Central and Eastern Europe, and parts of Asia. The platform is intended to support a projected fourfold increase in transaction volumes across those regions.

Reconciliation systems help banks and other financial institutions compare records across internal and external sources, identifying mismatches in trades, payments, and securities processing. The task has become more complex as institutions manage larger transaction flows across multiple jurisdictions and adapt systems to updated messaging standards.

BRx Match has a cloud-based design and includes automated processing, exception management tools, and ISO 20022 integration. Banks have been updating infrastructure to align with ISO 20022 as the standard spreads across payments and securities messaging in global markets.

For Raiffeisen Bank International, the upgrade is part of broader efforts to maintain processing across a geographically dispersed network. CRISP handles service and payments functions for the wider group, making reconciliation a core operational task as volumes grow and requirements shift across markets.

Andreea-Beatrice Manea, General Manager at CRISP, said the change was important for the bank.

"Having a modernized, scalable reconciliation platform is critical for maintaining operational excellence and meeting regulatory requirements in today's rapidly evolving landscape," said Andreea-Beatrice Manea, General Manager at CRISP. "Our longstanding relationship with Broadridge has consistently delivered value, and this upgrade to BRx Match provides us with the advanced technology we need to support our ambitious growth plans, all the while ensuring compliance with the latest industry standards."

The implementation also reflects continued demand among banks to replace older back-office systems with tools that can manage greater scale and more standardised data exchange. Reconciliation has drawn attention as firms seek to reduce manual intervention and improve visibility over exceptions across business lines and jurisdictions.

For Broadridge, the CRISP deployment adds to its presence in post-trade and operations technology for financial institutions. The project highlights its work in multi-market reconciliation environments, where clients must manage different volumes, rules, and workflows across regions.

Sandeep Saggi, General Manager, Regulatory Solutions and Data Control at Broadridge, said the project reflects the demands banks are placing on reconciliation providers.

"This expansion of our relationship with CRISP demonstrates Broadridge's ability to support complex, multi-market reconciliation requirements," said Saggi. "As financial institutions look to modernise their reconciliation processes while adapting to industry changes, our next-generation platform provides the technological foundation they need for future success."