The problem
A $6B RIA receives daily position and transaction feeds from four custodians (Schwab, Fidelity, Pershing, Apex), each using different file formats, security identifiers, and transaction type codes. Operations staff spend 3-4 hours every morning manually reconciling these feeds into their portfolio management system before advisors can see accurate client positions.
92% reduction in daily reconciliation labor; zero missed trades in 14 months of operation
- How it works
- Neume ingests each custodian feed, applies AI-driven schema mapping to normalize security identifiers (CUSIPs, tickers, SEDOLs) to a canonical format, reconciles transaction types across custodian-specific code sets, detects missing or duplicate transactions, and loads unified position data into the portfolio management system. When a custodian changes their feed format -- which happens 2-3 times per year -- the AI detects the drift and proposes updated mappings within minutes.
- Outcome
- Morning reconciliation reduced from 3.5 hours of manual work to a 15-minute exception review. Custodian feed format changes handled in minutes instead of days of developer time. Advisors see accurate positions by 7:30 AM instead of 10:30 AM.