OCC – Exception Management Workflow
When it comes to financial transactions, there are bound to be exceptions that occur and require management. That’s where transaction exception management comes in, providing a systematic approach to identifying, monitoring, and resolving exceptions.
It’s crucial for institutions such as banks, insurance companies, and investment firms to have a robust process in place for dealing with these exceptions. The consequences of neglecting transaction exception management can be dire, leading to costly errors, regulatory violations, and damage to customer trust.
With the right systems and processes in place, transaction exception management can ensure that financial institutions run efficiently and effectively, providing peace of mind to both businesses and their customers.