Case Study
September 13, 2022

Ascent AutoRECON Helps Leading Mumbai-Based Bank Achieve Automation

Ascent is proud to have assisted one of the leading  Mumbai-based private sector banks founded in 1943, offering a range of financial services, including corporate banking, retail asse...

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Ascent is proud to have assisted one of the leading  Mumbai-based private sector banks founded in 1943, offering a range of financial services, including corporate banking, retail assets, and financial inclusion.

Challenges

  • Multiple users needed for reconciliation, some units requiring more than 40 resources.
  • High volume and complex data inputs in multiple formats.
  • The manual intervention led to a high error rate and risk.
  • Reconciliation was done on T+3 instead of the required T+0.

Solution

Intelligent Omni-Channel Multi-Tenancy Platform Enabling End-To-End Reconciliation

The Bank achieved significant automation by adopting AutoRecon including:

  • No revenue loss and penalties from regulators. 
  • Enabling flexible reconciliation of any data type and format, including complex scenarios. 
  • Significant cost savings. 
  • Compliance with the local regulator’s requirement. 

Results  

The Bank achieved Automation on the following Reconciliations using the AutoRECON: 

  • Razor Pay 
  • Pay U 
  • NEFT 
  • UPI 
  • Net Banking 
  • Chargeback 
  • Mobile Banking 
  • Cash at Branch 
  • Cheque(CTS and Transfer) 
  • Cash by Collection Agency 
  • ECS 
  • Mastercard 

If you’re interested in learning more about Ascent AutoRECON and its benefits, Contact us Right Away!  

Request a Demo

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