Bank enterprise reconciliation system for nostro/vostro, cards, cheques, payments and others; covering bank accounts management, data management, transactions management, reconciliation management, process management and reconciliation reports. It is fully Integrated with T24 core system
ERS™ is zero balanced reconciliation engine that provides reconciliation operations services using automated process or semi automated reconciliation process supported by workflow engine to generate reconciliation reports and operations actions. It archives all loaded transactions and provides rich historical reports (daily/Monthly/yearly).
ERS™ is a comprehensive solution that reconcile multi sources with multi destinations including (T24, SWIFT Statements/confirmations, POS, payment schemas (Visa, MasterCards, …etc), ECC, and payments gateways) based on business defined rules to generate reconciliation reports and set of actions. It adapts and automate bank established reconciliation process.
It is highly configurable solution that provides capabilities for different business reconciliation needs such as Nostro & Vostro, Cards, SADAD, Cheques, POS, payments…etc. ERS™ is integrated with T24 and other sources to collect data for reconciliation.
ERS™ has different modules for reconciliation:
Account Management Module
each currency has account linked to defined bank for Nostro/Vostro recon. Inquiries for transactions loaded from Swift and from the core and reversed transactions enable more controls.
Data Management Module
provides capabilities to read/upload different data sources from T24, SWIFT, Cards Trxns, In/Out cheques info. It supports direct reading and different file format (XML, CSV, Database data format).
Reconciliation Management Module
bank operations team should define reconciliation criteria in ERS. ERS do automatic reconciliation based on the predefined rules for each type of reconciliation. It also do Semi-Auto reconciliation that do does not consider trxn ref. and for pending trxns, bank user can manually match the trxns from the two sources.
Transaction Management Module
user can manually create trxn OR reverse trxn for reconciliation through multi level approval process.
Workflow Module
the predefined process will enable workflow engine to manage any required authorization process. Also, notifications can be generated through eMail or SMS to notify any end user with results or action.
Reports Module
different types of Reports are generated for end users supporting Excel and PDF extraction format
Overview
One Solution
ERS™ is one reconciliation solution for all bank reconciliation operation needs. It reads/upload data from different sources and do reconciliation based on predefined reconciliation rules. It engages all related uses to act on mismatches. ERS™ solution is equipped with all needed functions, definitions, data reading/uploading processing, workflow, reports, actions to simplify the end-to-end reconciliation process.
Zero Based
The reconciliation process guarantees zero based reconciliation including loaded trxns and pending ones. ERS™ draws clear picture about reconciled and not reconciled items.
Matching Rules
ERS™ has flexibility to define matching rules and assigned to different types of reconciliation. these matching rules can be updated by time saving all previous matching rules used for historical matching.
Risks Controls
ERS™ prevent losing any trxn not matched and prevent human mistakes if full automation.
Adaptive
ERS™ adapt to bank reconciliation needs considering country regulation, bank polices, operation process, automation level, external parties process/timeline/data format.
Trxn Archiving
ERS™ archive all transaction loaded to the system for historical reporting and historical validation/actions.
Different Automation levels
ERS™ provide full automated reconciliation process, semi automated with human intervention to complete the matching and manual process if needed. all activities (system and human) are logged and can be verified any time.
On demand reports
ERS™ Provide good list of reports that provides clear picture about daily reconciliation and related history. Extra reports can be added
Flexible Integration
ERS™ has full capability to integrate with any bank system for online data reading or any type of validation.
Flexible Workflow
ERS™ comes with built in workflow engine and initial reconciliation process. Workflow can be changes/added to align with bank operations needs.
