Data reconciliation

We've built a powerful reconciliation application on SysbuPro low-code platform in partnership with AdVision Finance in the Netherlands

Challenge:

In the financial sector it is common that dynamic and agile services use different technologies and partners to address the needs of their diverse customer segments. Using multiple applications and service delivery channels comes with the challenge of data quality, volume and security. The complexity of reconciling the transactions between different systems and accounts and regulatory compliance can lead to significant operational losses and reputational risks, this requires a robust data integration strategy and platform.

Solution:

To effectively handle large amounts of data and keep it organized, it is necessary to implement automation and scalability in the reconciliation process, which we did by developing the Reconwizz app on SysbuPro Low-code. Reconwizz is a platform designed to provide financial institutions with an end-to-end data integration solution that addresses the challenges of data quality, volume, and security. It is built on the SysbuPro Low-code platform, which offers the benefits of speed, flexibility, and scalability. With Reconwizz, financial institutions and other industries can streamline their reconciliation process, automate manual tasks, and reduce operational losses and reputational risks. The platform provides real-time visibility into data and transactions, enabling financial institutions to quickly detect and resolve any discrepancies. Reconwizz integrates with multiple applications and service delivery channels, ensuring that all data is consolidated into a single repository. This ensures that the data is accurate, consistent, and secure, meeting the regulatory requirements of the financial sector. In addition to providing robust data integration, Reconwizz also offers robust security features, including role-based access control and secure data transmission protocols. This helps to ensure that sensitive financial information is protected from unauthorized access or theft. In conclusion, Reconwizz provides financial institutions with an effective solution for reconciling transactions between different systems and accounts, while also addressing the challenges of data quality, volume, and security. With its advanced capabilities and ease of use, Reconwizz is the ideal platform for financial institutions looking to improve their data integration and reconciliation processes.

• Link unlimited sources, automated tasks and matching rules for effortless financial reconciliation
• Empower your data management with customizable dashboards in reconwizz: user-specific views, scheduled tasks, transactions investigation, and audit trail for maximum visibility
• Streamline your unmatched transaction investigations with reconwizz: define processes, attach notes, assign tasks, and seek review and authorization with a defined process workflow
• Optimize your data matching with reconwizz: define complex rules, categorize and prioritize criteria, and benefit from multi-criteria support for two sets of data
• Streamline your reconciliation process with reconwizz: automate unmatched transactions investigations, attach notes, assign tasks, and seek review and authorization with a defined process workflow