End-to-End Reconciliations
Global regulatory requirements and constantly increasing transaction volumes demand greater operational efficiency and risk management. Manually managing reconciliations can create vulnerabilities to your systems, such as non-compliance, fraud, errors, write-offs, and audit risk. Speed, accuracy and transparency are essential to meeting the increasingly complex needs that organisations have today.
CHALLENGES
Challenges banks & corporates must solve
Significant transformation in the payment industry driven by the adoption of ISO 20022 and evolving regulations adds an extra layer of complexity to reconciliation processes.
Different reconciliation types, numerous bank accounts, currency differences and conversions, different data and file formats.
Reliance on manual processes is time-consuming, prone to errors, and prevents scalability, especially with increasing transaction volumes.
With the rise of real-time payments, the need for instant and accurate reconciliations has never been greater. Without seamless real-time reconciliation, financial institutions and corporates risk delays, errors, and inefficiencies in cash flow management and reporting.
Move away from Slow, Error-Prone Manual spreadsheet-based processes
To Powerful, AI-powered Automated Reconciliations
Imagine having 10 items on one side and 10 items on the other that need to be matched, there are over 3.5 million possible combinations to be considered!
Validata can dramatically reduce the risks by automating the entire reconciliation process to monitor, validate, aggregate, enrich and match data coming from different sources.
It integrates both transaction and balance-level data and automates the entire reconciliation process from data acquisition and matching through period-end approvals and reviews.
An all-in-one, AI-powered platform for all your reconciliation needs
By using a single solution to automate reconciliations for all asset classes and business areas, you benefit from improved match rates and a central access point across all different types of transactions.
The reconciliations we manage, include:
AI Data Reconciliations
We offer cloud-native, AI-based technology that allows any data set to be compared in seconds, regardless of complexity and size.
Cash
Achieve greater visibility and control into the financial reconciliation of cash instruments, nostro, general ledger, suspense, internal and branch accounts.
Digital Payments
As digital payments grow in volume and type, organisations require real time control, and the ability to detect and investigate exceptions rapidly.
Intersystems
Manage reconciliation breaks and operational risk with a single, automated control hub which processes all transaction types across multiple systems.
Financial Reconciliation
Balance sheet account reconciliations including open/close periods, reconciliations, allocations and auto postings.
Securities
Gain visibility and control when reconciling securities for trade settlements, transactions and holdings. Automatically raise exceptions as they occur and improve break resolution efficiency.
Bank reconciliation
High-volume AI-powered matching between bank statements and the general ledger (GL), with out-of-the-box support for common bank formats.
ATM / POS reconciliation
Enable processing of unstructured data by analyzing ATM/ POS transaction details and identifying discrepancies. Our high-capacity matching engine handles large transaction volumes, allowing for efficient reconciliation without compromising speed or accuracy.
Every decision is based on data and
processes you can trust!
Get to 100% reconciled faster than ever with a continuously running, self-improving reconciliation engine that makes it easy to automate complex reconciliation and resolve exceptions.
Connect to multiple systems, to any core banking system, payment system or ERP, through API/Web services with industry standards and common file formats supported out-of-the box and cloud-native data transformation services.
A Data-agnostic system which can pull and integrate transaction and balance-level data from any source and in any format.
Gain Access to normalized, validated data on securities, cash positions, transactions and trade fail investigations.
Processes and calculations - which would take a human, hours of work - are now performed in seconds. The AI engine self-learns from past manually matched items and acts as a human would in a range of scenarios. Leveraging AI and machine learning models, it identifies patterns and recommends the ‘next best match’.
It bridges the gap from all data sources and provides graphical, real-time insights into reconciliation and transaction management statuses, and a more accurate view of positions, eliminating manual efforts, allowing organizations to make more informed decisions.
Game-Changing features
Reconcile with AI Precision at Scale
Continuous real-time data connectivity to your partners, banks, clients and regulators.
It achieves a comprehensive and precise overview of transaction types, spanning various time zones and borders, instantly, enabling fast response and informed decision‑making. Enhance internal controls to ensure compliance with standards by real-time reconciliation with the ability to define the sequence in which the matching rules will be applied (one-to-one, many-to-one, and many-to-many).
Our reconciliation platform natively supports both MT and MX messages, ensuring seamless processing, validation, and matching of structured and unstructured data across legacy and modern payment systems.
With built-in SWIFT MX and MT message parsing, transformation, and enrichment capabilities, the solution facilitates interoperability between different messaging formats.
It matches imported positions, transactions, internal and external statements, Nostro entries and balances based on specific rules, allowing tailored matching for different transaction types. It delivers the highest automated matching rates and ensures that any failed transactions are escalated, repaired and returned to the process flow.
Automate and control the entire exception management process, using rules for the efficient identification, tracking and resolution of transaction breaks. Unlike traditional models that only match a transaction once, leading to the same exception being reported twice, it is able to create a single view, of any exception or investigation state.
The solution monitors any exception at the trade level, combining all transaction activity and presenting both cash and securities in a single view. Risks can be reduced through the early detection of trading and settlement-related anomalies.
Track transactions, delivering timely alerts to users and highlighting issues that require immediate attention. It enables users to view and interrogate all real-time and historical data in the repository in a single consolidated dashboard.
Reports include: Matched and Unmatched items, Exception and Write off reports, etc.
BENEFITS
Take control of your transactions and optimise your operations
- Potential labor cost savings of 30-50% due to reduced manual intervention.
- Reduces the cost of handling mismatches and discrepancies by 60%.
- AI minimizes human errors, leading to a 40-70% reduction in reconciliation errors.
- Reconciling data in real-time means that any discrepancies in the matching and reconciliation process are identified pre- rather than post-settlement.
- Super-fast processing of large datasets in real-time to complete common reconciliation operations in just seconds!
- AI can scale with growing transaction volumes without increasing operational costs.
- Achieve efficiency and accuracy across reconciliation and exception management while driving greater transparency across your entire process.
- Improve control through dynamic business activity monitoring and real-time views of your operations.
- Reduce risk and delays by identifying mismatches, validating data fields, and ensuring transaction accuracy before settlement.
- Gain greater transparency, accuracy, and security in their reconciliation processes, reducing financial exposure and operational disruptions.
- Easy integration into existing hardware and software Environments.
- Hassle free implementation.
- By automatically suggesting matching patterns for reconciliations, it enables non-technical users to build and test reconciliations without IT support.
- Empower business users to control the handling of mismatches and rectify the reconciliation exceptions.
