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Downstream Integration

Updating Downstream Transaction Data in Real-time

All the roads of transaction accounting lead to crossroad of internal books or General Ledger of a bank. A single mistake in a simple write-off could end up as a spooky Halloween challenge for back office financial closers.

Ascent AutoRecon© dashboard can be configured as per managerial users need, to take a glance at the transactions reconciliation status from different dimensions.  A maximum of ten dashboards can be configured to view the information in various graph charts (Pie, Bar, etc), which is a rare feature in the industry.

This banking reconciliation solution updates the General Ledger in real-time and ensures zero errors. Similarly, all the exception cases are updated in the GL, after a thorough investigation using clusterable AutoRecon© engine.

Functionalities

  • Integration with Core Banking Systems (CBS)
  • Data extraction from all the sources using any of the three methods FTP, Web based UI & Manual
  • Automatic updates of write-offs in General Ledger
  • Watchdog module to create alerts for several system events
  • Escalation of any issue based on their ageing to the next level supervisor
  • Updates resolved / unresolved exceptions
  • Updates cash, cash sales, cash deposits, credit card, POS, internal systems, AP & AR with GL