Accurate NXG, originally developed by Accurate Software and acquired by CheckFree in May 2005, is a operational risk management solution to monitor transactional risk, automate bank account reconciliations and optimize the resolution and reporting of exceptions across the customer accounts.
Pinnacle Sports introduced Accurate NXG across all products, including sports betting, racing and casino gaming, to reconcile transactions, resolve exceptions and provide management information reporting, automating a previously semi-manual reconciliation and exception management process that was time-consuming, costly and that exposed the company to high levels of operational risk.
Accurate NXG has been able to move the processing of reconciliations from an end of day to an intraday activity, from 8 hours to an average of just 45 minutes, freeing up finance executives for more value added activities.
“The growth of PinnacleSports.com and of the online betting industry as a whole has been phenomenal and with this growth comes the need to build an effective operational risk management infrastructure,” said Ate de Jong, Chief Financial Officer at Pinnacle Sports.
“CheckFree\’s experience in developing APIs has enabled easy integration with multiple payment service providers in multiple currencies to give our international customers the freedom to transact in the most convenient way they choose. By automating labour-intensive manual reconciliation and exception management processes with an advanced technology solution, CheckFree\’s Accurate NXG has enabled PinnacleSports.com to reduce risk across our entire organisation,” he added.
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