e-Reconciliation System
e-Reconciliation System
e-Reconciliation system by InfoDevelopers is designed and developed to automate the reconciliation of the financial transactions originating from different sources like ATM Terminal, POS, CBS, Switch, etc. The comparison of such transactions is supported by the system and suggests the matched and unmatched transactions. This e-reconciliation System provides a full set of reconciliation capabilities and helps not only banks, but different financial services firms to meet their imperatives. Its functional components provide adequate and strong control points allowing greater visibility into transaction and exception handling processes.
The software is data-agnostic and is designed to facilitate quick and easy configuration of reconciliation jobs with minimal IT intervention. The system is highly comprehensive and delivers end-to-end capabilities for managing the diverse reconciliation needs of an enterprise. The application has been well-planned and developed with the best software practices in the industry. Also, the application follows the Software as a Service (SAAS) model.
Features
ATM Reconciliation (CBS-EJ, EJ-SWITCH, CBS-SWITCH)
ATM reconciliation technology capitalizes on its capabilities to handle multiple transactions including online, offline, prepaid debit cards, credit cards, and electronic purse cards. It simplifies data complexities, integrating them into a bank’s processes.
Foreign Nostro Bank Account Reconciliation
With this function available in the e-reconciliation system, banks can easily and more accurately reconcile foreign Nostro bank account transactions. The function also carries out a reconciliation between the SWIFT statement and the Core Banking System statement
Local Nostro Bank Account Reconciliation
With this function available in the e-reconciliation system, banks can easily and more accurately reconcile local Nostro bank account transactions. During the process, the system carries out the process of reconciliation of all entries by generating reports of matched, unmatched, failed, reversal, partial reversal, suspect transactions, and manual entries.
Mobile Banking, Internet Banking, Wallets, and Third-Party Reconciliations
With this function available in the e-reconciliation system, banks can easily and more accurately reconcile transactions carried out through these channels on a daily basis.
IPS, Connect IPS, RTGS Transactions Reconciliations
Reconciliation of transactions made through IPS, Connect IPS, and RTGS can be easily reconciled with this function available in the e-reconciliation system.
Inter Branch Account Reconciliation
With this function, banks can cover every transaction, exchange of services, and other interactions between different branches of a bank. The branch Reconciliation function covers Inward and Outward funds transfers, bills, Remittance Transactions Reconciliation, etc.
Remittance Reconciliation
The system conducts reconciliation between the CBS ledger of the bank and statements from Swift/TT/Demand Draft/Agency Remit/Agent transactions. The remittance reconciliation is further divided into Domestic Remittance Reconciliation and International Remittance Reconciliation.
Why e-Reconciliation System
Interactive Dashboard
The status of each and every reconciliation information can be monitored with graphical visuals through a dashboard available in this e-reconciliation system. Different dashboards are available for different user roles.
Device Compatibility
Designed and developed in a structure suitable for use via desktop, laptop, etc. Every screen works perfectly on laptops and desktop devices.
Custom Development
Any additional features can be added or removed as per the requirements of individual organizations.
Integration & File Formats
Works integrated with SAP® and e-Mail systems and is compatible with formats such as Excel, Word, txt file, PDF, and many more.
Language Options
Currently available in English only. More languages can be added and reconciliation letter templates can be prepared in different languages.
Report Generation
Auto generation of reports for required reconciliations for various transactions such as ATM transactions, file transactions, comparison summaries, reconciled transactions, unreconciled transactions, forced reconciliation, and many more.
