The new capability will enable Aviva to reduce operational inefficiencies and streamline compliance. Credit: Piotr Swat/Shutterstock.

UK insurer Aviva is collaborating with automated reconciliation solution provider AutoRek to drive efficiency and compliance. 

AutoRek is a financial and operational reconciliation solution that leverages intelligent automation to eliminate manual processes, perform matching and analyse discrepancies. 

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By adopting this technology, the insurer aims to support a fully audited, rules-driven reconciliation process for both Client Assets Sourcebook (CASS) auditors and internal stakeholders. 

This collaboration is said to offer Aviva an enhanced automated tool for client money and regulatory reporting by reducing the risk associated with manual processing. 

This is said to boost operational efficiency, streamline compliance and improve overall financial control. 

Aviva CASS & Middle Office head Chris Golland said: “Aviva is dedicated to investing in technology to further our growth strategy. Following an extensive tender process, we were highly impressed with the quality of the AutoRek tool. The implementation of the AutoRek solution will streamline our processes and allows us to confidently address future scalability and volume requirements.”   

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AutoRek sales VP Jack Niven stated: “We are thrilled to onboard Aviva as a client to the AutoRek platform, empowering them to achieve greater efficiency and accuracy in their operations. Together, we are driving innovation and setting new benchmarks for financial excellence.”  

Last month, Aviva reached a preliminary deal on the £3.6bn ($4.6bn) takeover of British motor insurer Direct Line.