RECONCILIATION MANAGER

Our engagement
till date
60%

Time saving in administrative efforts
60%

Improvement in Monthly dispute resolution
99%

Reconciliation within 30 minutes of receipt

Improving data consistency & quality across enterprise systems.

Reconciliation Manager is a data clean-up solution that helps in comparison of data from different sources to enable quick resolution of differences.

Keywords:

With Reconciliation Manager, you get

Reduced Effort Resolution

Identification of close matches using fuzzy matching reduces the effort in resolution.
Reduced Timeframe

Achieve data quality improvements in a shorter timeframe with the help of quick setup for matching jobs with less effort.
Faster Implementation

Data models and rulebooks available for several products with complex data models shorten implementation timelines.

CHALLENGES

In today’s business world, all the leading banks and corporates faces significant challenges in the area of reconciliations. Some of key challenges are:

1.
Data Inconsistency due to multiple parallel static data sources.
2.
Lack of synergy between internal teams.
3.
Identifying true value breaks with material Impact.

Need For Robust Data Quality & Reconciliation

Reconciliation Manager helps in improving data consistency and quality across enterprise systems, by matching data flowing in from disparate sources, with or without common record identifiers. Noise reduction through business rules that are run on the input data and on the match results, eliminate all non-meaningful breaks. This reduces the effort required to manage data and provides the required controls to ensure data integrity.

SOLUTIONS

01 RECONCILIATION PLATFORM

Platform to reconcile data from multiple data sources, with a wide array of features to ensure fast and accurate reconciliation results.

02 FIELD LEVEL RECONCILIATION

Matching algorithm to identify the matches based on economic parameters, when common identifier absent. Field level reconciliation for full set of parameters done after matches identified.

03 OWNERSHIP TRANSFER AND AUDIT TRAILS

Users investigate breaks and provide “recommended actions” for applicable escalations. Ability to transfer ownership to a different department and maintain commentary / audit trail.

04 DATA STANDARDISATION MODULES

Reconciliation Manager has an evolved data standardization module to normalize data from different sources / formats into a standard format compatible with matching algorithm.

05 FALSE POSITIVE REDUCTION
SCREENING

Customizable region specific attribute list based on risk classification.