Agricultural Bank of China Limited (ABC) has been greatly
promoting the corporate online banking reconciliation
service in recent years. By the end of June 2012, the
number of ABC contract accounts for online reconciliation
has reached 101,680,000with a contract signing rate of 24%,
increased four times compared with early this year.
Online reconciliation is a service provided by ABC to help
registered corporate online banking customers obtain
reconciliation statement on specified accounts through
online banking and finish account checking with ABC online.
In order to further improve efficiency of bank-enterprise
reconciliation, save cost and promote operational
transformation, ABC has developed the function of
bank-enterprise reconciliation for corporate online
banking, which has been launched throughout ABC by the end
of December, 2010.
Comparing with conventional paper reconciliation, online
reconciliation has the advantages of higher efficiency,
lower risk and lower cost. Online banking not only saves
costs on preparation and delivery of reconciliation
statements, but also reduces risk of information leakage
during the reconciliation statements delivering. Moreover,
the electronized procedure control helps standardize
reconciliation operation. Practice has proved that vigorous
development of ABC online reconciliation service
effectively increases the number of corporate online
banking customers and stimulates leapfrog development of
the corporate online banking business.
Next, ABC will specify targets on contract signing for
different stages, develop targeted marketing strategies,
optimize contract signing procedure and put in place
incentives and punishment measures. With these efforts, ABC
will strive to promote rapid and healthy development of
online reconciliation and play a greater role in risk
control and business development.