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Ascent AutoRecon© Modules

Compliant to Support Multi Tenancy

Every day, Banking & Financial institutes deal with multiple transactions and achieving accurate reconciliation in real-time is a major concern for any organization. Additionally, the primitive matching systems are failing to produce the genuine results and making the process more complex.

Ascent AutoRecon© architecture is designed to serve multiple customers in a single instance and this multi-tenancy feature makes the solution highly cost-effective. The system is built on SaaS Level 3 maturity model and is fully compliant to support multi-tenancy and in-premise deployment. In this case, the data of each tenant is kept in isolation and invisible to other tenants.

Simplifying Reconciliation Process

While exception transactions are demanding for flexible workflows, unexpected transaction volumes from multiple institutes are further compounding the reconciliation landscape. In this scenario, a third-party automated solution could be a better option to increase operational efficiency.

Ascent reconciliation software is a viable solution designed to simplify the reconciliation process of simple to complex upstream and downstream systems of business sectors like banking, finance, investment management and others.

In addition, AutoRecon© facilitates the back office operations with more efficient and agile functionality and reduces the cost of human resources (FTEs) and is flexible to quickly configure the solution for new reconciliation types.

It’s highly intelligent and powerful algorithms match enterprise-wide data of ATMs, Visa / Master Cards, Securities, Nostro / Vostro accounts, Wages Processing System (WPS), Fund Transfer System (FTS) and Issuer/Acquirer.

Features of AutoRecon©

  • Ready to deploy and use for various business sectors like banking, hedge funds, investment managers, prime brokers, broker/dealers and custodians, retail and telecom
  • Highly configurable and easily integrates with almost any existing enterprise upstream systems and post trade processes
  • Provides robust and upgraded automated solution with multiple matching rules, rules driven exception processing and automated follow-ups
  • Reduces manual effort, errors, risk and exposure
  • Replaces manual entry tools including, paper and spreadsheets
  • Offers traditional on-premise implementation, thus enabling the user to supervise and manage the reconciliation process in respective secure environment
  • Improves operational efficiency and visibility while reducing operational risk and ongoing operational costs
  • Avoids additional development effort through rich web based UI
  • Incorporates Artificial Business Intelligence to deliver intelligent matching and exceptional volume performance, using high performing matching algorithms
  • Provides a unique platform to work only on valid exceptions through exceptions resolution workflow thereby ensuring timely and accurate break resolution

Methodology

Ascent’s AutoRecon© leverages Source Analysis, Upstream Integration and Downstream Integration to offer comprehensive solution to multiple types of transactions.

Source Analysis

Detailed study of data sources, enterprise integration, data file formats, data frequency, data structure etc.

Upstream Integration

  • Enterprise Integration: Data from all the sources will be extracted using any of the three methods FTP, Web based UI & Manual
  • Data Sourcing:Data from varied sources is compiled using data file, file name, file format and data frequency
  • Data Transmission & Policy:
    • Seamless real-time integration with upstream data sources
    • Provides the interface to extract transactions data from upstream data sources on real-time basis at regular intervals
    • Provides interface where upstream data sources will push the transactions periodically, on real-time
    • Data extraction from upstream data sources on a scheduled basis or at the end-of-day process
    • Data conversion to XML messages
    • Data encryption using dynamic key encryption
    • Transfer of encrypted XML messages via Message Oriented Middleware (MOM) infrastructure
  • Data Structure
  • Data Validation, Transformation Requirement / Policy

Downstream

  • Enterprise Integration
  • Method of Data Transmission & Policy
  • Business Processing Requirement
  • Cancel/correct/Reversal Policy
  • Data Exception Management requirement / policy
  • Data Structure
  • Table Structure

Matching Scenarios

  • Match & Unmatch Scenarios
  • Currency wise/ Age wise/ Branch wise
  • Supports any file format