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Reconciliation System

Financial Control with Real-time Reconciliation

Banks can get away with their reconciliation process with any existing systems or methods. But, what matters more is having a solution with the right understanding of cash flow matching, exceptions and investigation cases.

Ascent AutoRecon© is a powerful reconciliation solution that stores all the transaction data through every stage of the transaction life cycle, to improve financial control, increased compliance and full auditability.

The reconciliation engine of banking software is feasibly clusterable, where a single reconciliation job execution can distribute the load across various cluster nodes, thus ensuring optimal utilization of the system resources.

real-time-reconciliation

It is easily scalable to increased transaction volume and user base without re-deploying and extending the solution.

AutoRecon© is SaaS Level 3 (on a scale of 0 to 3) maturity compliant where multiple customers are hosted on a single instances, deployed on a load-balanced farm of servers, with each customer’s data being kept in isolation.

The base reconciliation platform, on which AutoRecon© is build, has been tested on high end HP servers to process one million transactions with precise matching and focused exceptions in record time of 3 minutes, which is a benchmark in the industry with fourteen complex matching rules and all possible five match combinations (1-To-1, 1-To-M, M-To-1, M-To-M & Consolidated).

Following are different types of reconciliation needs of a typical Bank where AutoRecon© can help:

  • On-Us ATM transactions between Issuer Bank’s host General Ledger, ATM Switch & ATM EJ (electronic journal files)
  • Not-on-Us ATM transactions between Acquirer bank’s host system ATM account, ATM EJ files, ATM network switch and NFS switch, which approves the fund withdrawal from ATM
  • Acquirer bank’s settlement account with Issuer banks settlement advice (RTGS\DNS message)
  • Reconciliation of transactions from MASTER/ EBL / NFS / SBI/VISA/CIRRUS networks
  • Reconciliation for all on-line and off-line POS transactions
  • Reconcile ATMs transactions where there is difference in cash Dr / Cr as per ATM A/c (using CBS Data) vis-à-vis bills appearing in ATM Counters as per EJ
  • Use EJs from ATMs for Reconciliation of ATMs and settling outstanding/mismatch/disputed entries
  • Cash in ATM reconciliation
    1. Computation of cash amount loaded / unloaded and cross check the amounts with EJ files and generate discrepancies reports
    2. Verification of cash overages and shortages at the time of Replenishment
    3. Provide cash positions of ATM at different stages of Cash Replenishment