Transaction Reconciliation
Automated reconciliation to minimize operational risk and manual intervention
The Challenge
Manual reconciliation processes are time-consuming, error-prone, and don't scale with transaction volumes. Teams spend countless hours matching transactions across systems, investigating breaks, and resolving discrepancies. Delays in identifying issues can lead to financial losses, compliance violations, and customer dissatisfaction.
The Solution
Finwares Transaction Reconciliation automates the entire reconciliation process using intelligent matching algorithms, exception management workflows, and comprehensive reporting. Achieve near-perfect straight-through processing rates while reducing reconciliation time from days to minutes.
Key Features & Capabilities
Intelligent Matching
Advanced algorithms match transactions across systems using multiple criteria, fuzzy logic, and machine learning
Multi-Source Reconciliation
Reconcile data from internal systems, bank statements, payment networks, and third-party sources simultaneously
Exception Management
Structured workflows for investigating and resolving breaks with assignment, escalation, and audit trails
Configurable Rules
Define custom matching rules, tolerance thresholds, and business logic without coding
Real-Time Processing
Continuous reconciliation as transactions occur, not batch processing at end of day
Comprehensive Reporting
Detailed reconciliation reports, aging analysis, and KPI dashboards for management oversight
Business Value
- Operational Efficiency: Reduce reconciliation time by 90% and reallocate staff to higher-value activities
- Error Reduction: Eliminate manual errors and achieve 99.9%+ matching accuracy
- Risk Mitigation: Identify discrepancies immediately, preventing financial losses and compliance issues
- Scalability: Handle unlimited transaction volumes without adding headcount
- Audit Readiness: Complete audit trails and documentation for regulatory examinations
Reconciliation Types Supported
Automate all your reconciliation processes:
Bank account balances and movements
Sent vs. received confirmations
General ledger to sub-ledger matching
Trade confirmations and settlements
Automate Your Reconciliation Process
Discover how automation can transform your operations team
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