Bank Reconciliation System
RECON is Surya's elegant and versatile reconciliation system designed to handle multiple sources of data and simplify the process of reconciling transactions recorded in different systems. With a user-defined rule engine and pre-configured reconciliation parameters, RECON provides an efficient and accurate solution for financial institutions.
OverviewOverview
Surya's RECON is a powerful and versatile reconciliation system designed to handle the complexities of reconciling transactions from multiple sources of data with speed and accuracy. It features a rule engine that can adapt to changing conditions and can be configured to address any type of reconciliation need, making it an essential tool for banks and financial institutions.
With RECON, banks can easily reconcile transactions recorded in different systems with pre-configured reconciliation parameters and tolerances. This flexible solution allows for various reconciliation requirements including remittances and channel reconciliations, and enables banks to save time, effort, and resources while ensuring quick and accurate reconciliation.
FeaturesFeatures
Define Reconciliation Process - Input files “File A” and “File B” are considered as input to define a reconciliation process
Maintain reconciliation rules - A series of reconciliation rules are stated to the system. Based on complexity of rules and data size, reconciliation runs may differ in the time they consume
Execute reconciliation - These rules are applied to data in for the two “File A” and “File B” of respective process. Reconciliation process can be scheduled at different times of the day, depending on input file availability.
Manage reconciliation – (matched, unmatched, forcibly match / un-match). There are 4 categories in which an entry can appear: “all”, “matched”, “unmatched”, and “confirmed”. These are colour-coded to ease viewing.
The system also allows entry of a new transaction to adjust the unmatched transaction details so that unmatched transaction can be moved to the matched section.
Reports and Management Information - Reconciliation status can be viewed under various heads and system reports. This is a summary of reconciliation status showing total number of matched and unmatched transactions and their corresponding total values.
We also support bank level dashboard and reports to understand state of recon across multiple processes to give a birds-eye view of progress to take necessary actions on pending files.
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