Problem Statement:

At the end of the day, settling Bank’s settlement Account with the module specific sub-ledger accounts and identifying difference, if any.

Solution Summary & Benefits:

It extracts, verifies, validates and matches various types of transactions including, Cash Sales, Bank Statements, Cash Deposits, POS, Commissions, Internal Systems and AP & AR.

Functionalities of the General Ledger Reconciliation Software:

• Ability to upload data from multiple data sources and performing advance duplicate checks to avoid redundancy.
• Updates the host General Ledger (and or other downstream systems) on a real-time basis
• Performs necessary reversal and updates host GL, in case of cancel correction of already reconciled transactions
• Automated review and approval workflows, with proper segregation of duties involved in General Ledger reconciliation, it also adds proper controls for users to General Ledger Reconciliations.
• It matches individual transaction count and amount against the consolidated transaction count and amount of settlement files provided by respective interchange.

Clients:

Yes Bank, Union Bank of India, Bank Doha , Bank Nizwa, Bank Dhofar.

Problem Statement:

• Difficulty in analyzing the data (TOP up, Mobile Recharge, DTH Recharge, Wallet to Wallet Transfer, Funds transfer, Bill Payment and online shopping)
• Time consuming process of settling the accounts when money transfers from e-wallet to account
• Difficult to balance network association ledgers
• Difficult to identify different transactions error codes and decline transactions
• Calculation of consolidated transaction fee revenue
• Difficult to handle disputed transactions
• Consolidated view of all payment and refund on one platform
• Compliance and efficiency gaps are difficult to identify and address.
• Difficult to validate the data as there are various type of transaction such as Couponed transactions/offer transactions etc.

Solution Summary & Benefits:

• Ascent AutoRecon support all type of Mobile Wallet transaction such as TOP up, Mobile Recharge, DTH Recharge, Wallet to Wallet Transfer, Funds transfer, Bill Payment and online shopping
• AutoRecon generates various output file such as:
  • Settlement file for Mobile, DTH Recharge & Visa Virtual Transaction
  • Refund file of Mobile recharge, DTH recharge, Billpayment& Visa Virtual for failed transaction
• Provides Consolidated view of all payments & refunds
• Reduce time gap in settling the accounts when money transfers from e-wallet to account
• Effective dispute management system

Clients:

Union Bank of India

Problem Statement:

As India moved a step closer towards becoming a cashless economy with the launch of Unified Payment Interface (UPI) and most of the banks are live on UPI, it becomes an utmost priority to reconcile UPI transaction as per the RBI guidelines on transaction day itself.

Challenges:

• Difficult to handle huge transaction volume through manual entry tools like paper and spreadsheets.
• Difficult to perform cycle wise reconciliation on transaction day which is mandated by authorized body.
• High error rate and considerable risk due to manual intervention.
• Delay in resolving customer disputes and chargebacks within specified Turnaround time (TAT) which attracts high penalty and charges
• Leakage of funds due to delayed and improper reconciliation which results in frauds

Solution Summary & Benefits:

• Automated cycle wise reconciliation on transaction day which is highly scalable to handle millions of transactions hourly
• Provides robust and upgraded automated solutions with multiple matching rules, rules driven exception processing and automated follow-ups
• End-To-End Claims Management i.e. disputes lifecycle from initial entry to final resolution
• Complete automation from real time integration with multiple data sources to full view about end state of each transaction
• System generated bulk uploads which is required to be uploaded on interchange portals
• Rich management dashboards with Analytics & Dispute Aging Analysis
• Improves operational efficiency and visibility while reducing operational risk and ongoing operational costs
• Minimize the revenue leakage by proactively identifying the transaction discrepancies and settling the transaction

Clients:

Union Bank of India

Problem Statement:

With the large volume of vehicle passing daily, there are instances where toll charges may be deducted twice from customer’s account due to discrepancy at any system level. It results in customer complaint which has to be resolved within specified period of time (TAT).

Solution Summary and Benefits:

• Adeptness to perform cycle wise recon within TAT for Fastag, i.e, for Cycle 1 on T+1 and for Cycle 2 on T+0 days
• Maintenance of tag details for Issuer Bank using master data
• Complied with all TAT’s through Automated dispute management system for all dispute levels
• Higher levels of STP through multiple matching rules, rules driven exception processing and automated follow-ups with intelligent matching algorithms.
• Multiple level escalations with effective case management system
• Clarity of outstanding items with the ability to Force Match / Unmatch, Supress / Undosupress
• Maximizing Financial control with minimizing revenue leakage using effective General Ledger Balancing
• Validation of NETC Settlement through settlement prepared using raw data
• Ensure compliance and data security in the cloud and within an on premise data center

Problem Statement:

With the increasing volume of POS transactions, it is troublesome to perform reconciliation within defined Central Bank Guidelines and TATs, given the complexity of input files and short duration to settle TAT’s.

Challenges as an Acquirer:

• 7- Tracking of outgoing, clearing and settlement file
• 8- Handling of customer’s disputes within TAT at all levels

Challenges as an Issuer:

• Knocking of settlement transactions V/s CBS credit transactions (Customer Debit transaction)
• Tracking of partial or excess settlement (offline claims)
• Tracking of late settlement and reversal transactions
• Reversal of unclaimed funds
• Handling of customer’s dispute within TAT at all levels

Solution Summary & Benefits:

• Preparation of settlement using Bank and Interchange data and comparison view with original settlement provided by Interchange
• Effective maintenance of partial or excess settlement
• Effective dispute management system
• Effective tracking of late settlements

Clients:

Union Bank of India, Bank Nizwa, Bank Dhofar

Problem Statement:

Card transactions today cover various ATM / Cash Recycler Machines which are routed through MasterCard / VISA / NFS or any other interchange provider amounting to approximately 50 percent of customer transactions.

• Reconciling high volume OnUs, Issuer and Acquiring Transactions
• Handling disputes at various levels and maintaining TAT
• Reading complex files like MasterCard, VISA, RuPay files
• Preparation of settlement report using Interchange and Core Banking Data and calculating difference, if any with that of original interchange settlement

Solution Summary & Benefits:

• Collects data from host banks and visa/master networks in real-time
• Synchronizes ATM Electronic Journals (EJs), Network Switches, GL of Host Bank and Payment Order
• Issuer (Remote-On-Us) network: Reconciles transactions occurred through other banks interface (ATM) across Interchange Switch Network
• Acquirer (Off-Us) Switch Network: Resolves transactions occurred through own Bank’s ATM through Interchange Switch Network
• Preparation of settlement using Bank and Interchange data and comparison view with original settlement provided by Bank

Clients:

Union Bank of India, Bank Doha, Bank Nizwa, Bank Dhofar

Problem Statement:

Nostro reconciliation is a daily reconciliation between the statement balances (foreign bank’s book) and ledger balances (our book) for all the Nostro accounts of the bank and manually reconciling these accounts could be troublesome.

Unidentified funds are a common scenario for Nostro reconciliation, where banks make payment to the incorrect beneficiary. When banks fail in returning the money, it will attract charges or interest for use of funds.

Also, it is difficult to analyze multi-currency cash position of nostro accounts which results in breach of minimum balances in Nostro accounts.

Solution Summary & Benefits:

• Balancing the Nostro a/c on day to day basis by taking MT103/202 connecting with MT940/950 & Mirror GL a/c
• Ability to set alerts by Nostro account to warn when agreed minimum balance is close to breach
• One to many, many to many, many to One Automatic and manual matching feature
• Multi-currency cash position and exposure management for various Nostro a/c
• Filtering unmatched transactions and identifying exception cases
• Case management: Assigning automatic cases to concern department
• Exception Management with proposed match
• Maximize the interest revenue from external accounts
• Control financial exposure to critical accounts
• Eliminating the duplicate transaction/Batches in the Swift Messages
• Validating the Opening Balance and closing Balances Batch wise and Nostro A/c wise

Clients:

Yes Bank, Bank Dhofar

Problem Statement:

Managing cash positions of ATM’s / CRM’s and identifying potential frauds by Cash Replenishment Agencies is an area of pain since the inception.

Challenges:

• To process 4-way reconciliation
• Difficult to read unstructured complex EJ files received from different ATM machines
• Data discrepancies in terms of on-us, acquirer, and issuer transactions of the host bank
• Poor matching percentage %
• To analyse terminal wise and Region wise Excess/Shortage
• To track cash loading and unloading on month wise or year wise basis performed by Cash Replenishment Agents/Vendors
• Difficult to find out diversion of cash among different ATM terminals
• Proactive Dispute Management
• To identifying requirement of ATM deployment in different regions
• Aging analysis of outstanding entries

Solution Summary & Benefits:

• AutoRecon process the 4-way reconciliation through GL file, Switch, EJs and CBR/C3R
• Configurable ETL is capable to read different type of file format of unstructured complex EJs and other files
• AutoRecon performs data level checks through multiple operations like cleaning, validation, formatting etc. in order to remove data discrepancies.
• Increased matching percentage % through multiple matching rules.
• AutoRecon analyse terminal wise and Region wise Excess/Shortage for different ATMs
• Auto Recon has dynamic reporting layer to provide daily reporting for Cash Positioning in ATMs.
• Auto Recon can provide terminal wise diversion report to check the cash inflow between ATMs
• Auto Recon provides dynamic workflow to handle exceptions/disputes which can be easily tracked in turn less resolution time.
• Auto Recon carry forward each outstanding entry and performs Aging analysis.

Clients:

Union Bank of India, Bank Nizwa, Bank Doha

As central bank reconciliation covers those transactions where central bank plays the role of interchange and all the transactions (Issuer and acquirer) route through Central bank platform.

Problem Statement:

• Difficult to Reconcile high volume Issuer and Acquiring Transactions
• Performing Real-Time reconciliation on batch/cycle basis
• Handling disputes at various levels and maintaining TAT
• Preparation of settlement report using Central bank and Core Banking Data and calculating difference, if any with that of original Central bank settlement

Solution Summary & Benefits:

• Collects data from Central bank, Core Banking System and Bank’s Switch in batch/cycle wise manner
• Issuer (Remote-On-Us) network: Reconciles transactions occurred through other banks interface (ATM) via Central Bank network
• Acquirer (Off-Us) Switch Network: Resolves transactions occurred through own Bank’s ATM via Central Bank Network
• Preparation of settlement using Central bank and Core Banking Data and comparison view with original settlement provided by Bank

Clients:

National Gate