Automated reconciliation saves 14,000+ staff hours a year

The client

Mattioli Woods is a leading UK wealth management and employee benefits firm founded in 1991, serving more than 20,000 clients with over £16 billion in assets under management, administration and advice. After its 2024 acquisition by private equity firm Pollen Street Capital, the firm launched an ambitious operational transformation programme.

The challenge

Daily bank reconciliation, which underpins the government-mandated Annual Valuation Statement, was done by hand by a 200-person CRM team, costing over 100 hours a day and 14,000+ hours a year. For four of five core banks, someone had to log in each morning and download transaction files manually. The reconciliation logic lived in people's heads with no documented architecture, and internal teams lacked a shared Agile delivery framework.

The solution

The results

A process that consumed a full working day across a 200-person team now runs as an automated pipeline in under two hours, monitored by a team of four. More than 320,000 transactions a year are reconciled across five banking partners without manual touchpoints, saving 14,000+ staff hours annually. Coverage reached 60-70% of transaction volume at soft launch, with a clear path to full automation.

Tools & stack

Original project by STX Next ↗ — published by the delivering agency, included here as an industry reference.