Clirec is mitigating risk, streamlining banking operations – experts

Financial services providers in Africa are increasingly adopting locally-developed account reconciliation solutions like Clirec, created by Precise Financial Systems (PFS), to address operational challenges, particularly the issue of ‘one-man risk’ where operations rely too heavily on specific employees.

Clirec automates complex reconciliation processes, enabling banks to handle high transaction volumes efficiently.

PFS has partnered with CWG to enhance its reach across the continent. The AI-driven solution standardizes processes, maintains transaction records for audits, and minimizes human errors, thereby improving security and operational efficiency in financial institutions.