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Licensing
Ensure compliance and seamless operation with our flexible licensing options. Our reconciliation tool offers scalable solutions tailored to meet the needs of businesses of all sizes, ensuring you only pay for what you use. Easily manage and upgrade your license as your business grows. For example, a small financial institution might start with a basic license and scale up to a premium package as their transaction volume increases.
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File and API Based
Data Ingestion
Effortlessly integrate your data with file and API-based data ingestion. Whether your data resides in files or needs to be pulled from external APIs, our tool supports a wide range of formats and protocols to ensure smooth and reliable data ingestion.
For example, you can import transaction data from clearing files or connect to banking APIs to automatically fetch daily transaction records. Our tool supports integrations with major payment processors and platforms, including Mastercard, Visa, PayPal, Stripe, and more.
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Audit Logging
Track every action with comprehensive audit logging. Our tool records all user activities and system events, providing a detailed and searchable log for compliance, security, and troubleshooting purposes. For example, every time a user imports data or adjusts reconciliation settings, the action is logged with a timestamp and user ID, helping to maintain transparency and accountability.
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Multi-Institution
Support
Manage multiple institutions with ease. Our reconciliation tool is designed to handle complex operations across different entities, allowing you to streamline processes and maintain oversight over all your operations in one place. For instance, a group with several subsidiary financial institutions can reconcile transactions separately for each entity while maintaining a consolidated view at the group level.
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User and Role
Management
Maintain control and security with robust user and role management capabilities. Define roles, assign permissions, and manage access levels to ensure that the right people have the right access to sensitive data and functionalities. For instance, an administrator can create roles such as "Finance Manager," "Auditor," and "Data Analyst," each with specific permissions tailored to their responsibilities.
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Configurable
Message Formats
Tailor the system to your needs with configurable message formats. Our tool allows you to define and customize message formats to fit your specific data requirements, ensuring seamless integration and processing. For example, you can configure the system to recognize and process different formats for incoming transaction files from various payment processors like Mastercard, Visa, PayPal, and Stripe.
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Custom Dashboards
and Reporting
Gain insights at a glance with custom dashboards and reporting. Create personalized dashboards to monitor key metrics and generate detailed reports to analyze reconciliation results, track performance, and make informed decisions. For instance, a finance manager can set up a dashboard displaying daily reconciliation status, outstanding discrepancies, and performance trends over time, with specific reports for Mastercard, Visa, PayPal, and Stripe transactions.
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Scheduled
and Manual Recon
Balance automation and control with scheduled and manual reconciliation options. Set up automated reconciliation runs at predefined intervals or initiate manual reconciliations as needed,providing flexibility to meet your operational demands. For example, you can schedule nightly reconciliations for daily transactions from acquiring and issuing banks while manually triggering a reconciliation for specific end-of-month closing activities, including those involving PayPal and Stripe.
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2 and 3 Way
Reconciliation
Achieve accurate and efficient reconciliations with support for both 2-way and 3-way matching. Whether you need to match data between two sources or require a more complex three-way reconciliation, our tool can handle it with precision.
For example, a 2-way reconciliation might match bank statements with internal ledger records, while a 3-way reconciliation could involve matching purchase orders, invoices, and payments. Our tool supports acquiring and issuing reconciliations for Mastercard and Visa transactions, as well as processing records from PayPal and Stripe.
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Matching Criteria
Definition
Define your own matching criteria to ensure precise reconciliation. Our tool allows you to specify the rules and conditions for matching records, enabling accurate and efficient reconciliation tailored to your unique requirements. For example, you can set matching criteria based on transaction amounts, dates, and reference numbers to ensure that only exact matches are reconciled, reducing the risk of errors. This flexibility is particularly useful for managing transactions from different payment processors like Mastercard, Visa, PayPal, and Stripe.
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