uloading-time-management.pdf.pdf

8/17/2019 uloading-time-management.pdf.pdf

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AutoRecon© InternalDemo


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What is Reconciliation?

• It is a process of checking the availability of the transactions that are routdierent entities to complete the transactions

•

In an electronic nancial transaction processing environment, transactionsat various entities such as AT!"#$%channels&, $'itch %router&,and (ost%)o$ystem& from dierent time +ones

• The dierences in the cut-over timings bet'een host!s'itch and interchanallo' for complete reconciliation on a business day.s transactions

• In simple terms, It/s a matching process b!' the entities for the transactio

• 0hen ever any transaction happens, it 'ill be routed thru dierent

entities%AT,$'itch,Interchange,(ostetc& and in case if your are using sombank AT then other bank gives their money to you and 'ill claim it from yfrom your account

• *ank 'ill match the transaction logs for all the entitles and arrive at a conc'hether they need to pay other bank or not

• If the transactions are less then bank 'ill do it manually, but for the past 1volume of transactions are increased abnormally, hence it/s a tedious 3ob fmatch transaction manually


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Why is there a need for Reconciliation?

• There are illions of transactions happening on AT!"#$!Internet!obile

• 4ach transaction 'ill be routed through dierent 4ntities to ensure succe

• It/s a tedious 3ob to verify the failed!unsuccessful!partial transactions frotransactions 'ithout using an application 5 searching through illions omanually to identify the fate of transactions may not be practically feasi

• $earching manually is also prone to human errors

• It may cost more number of resources

• It may be take more time

• There is an abnormal increase of Transactions 'ith the ne' trends in the*anking!obile banking and 4commerce transactions

• (ence there is a need to implement reconciliation for 6uick!"roactive res Transaction Disputes

• All input sources e7traction 5 reconciliation processes can be scheduled there by saving the processing time, reports ready for the user in the mothe unmatched cases

• $aves analysis time by identifying the reason for mismatch 5 listing the causing dierence

• "roactively identifying the e7cess cash to be refunded to customer!other


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odels of Reconciliations

• 8 'ay reconciliation

• 9 'ay reconciliation

• any to any Reconciliation %transaction amt, fee, surcha:; tran amt, fee, surcharges&

• 1 to many Reconciliation%"ayroll&

•

any to 1 Reconciliation%Donations&


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Types of Reconciliations

•

#n


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$*IAT

$*I$'itch

$*I )*$(ost

#n


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$*IAT

$*I$'itch

I)I(o

I)I)I)ustomer

Interchang

eI)I)I$'itch

Issuer Reconciliation forI)I)I bank


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$*IAT

$*I$'itch

I)I(o

I)I)I)ustomer

Interchang

eI)I)I$'itch

Ac6uirer Reconciliation for $*Ibank


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Interchange

$ettlement =ile)*$ =ile

$ettlement 4ntrieAd3ustment 4ntrie


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)*$$'itch;og =ile

$ettlement 4ntriesAd3ustment 4ntries


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*asic )omponents of Reconciliation

•

Input =ile Data 47traction%Reading Transaction ;• Data "re-"rocessing

• Recon Rules

• Recon "rocess

•

Recon Reports :eneration• =orce atch #ptions

• :enerate :; entries


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odules of Reconciliation

1 (ost Reconciliation %$'itch 5 )*$&

8 International Interchange Reconciliation %$'itch 5 Interchange 5 )*$&

• >I$A *ase II!$$

• aster)ard aestro %D$& #n us!# us

• aster)ard Debit


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Actions on isaetc&

$ource 9 %)*$&

H

H H D

H H

H )

H H )

H D


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:eneration of :; entries

• In the previous screen 'e have actions like )redit!Debit customer, th

be generated from the Recon system by using :enerate :; 4ntries, ')ustomer!*ank Account• 0hat 'e 'ill do after generating the :; lesJ• 0hat is )*$ (ostJ• 0hat is the relation b!' )*$ (ost and :; =ilesJ


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Reports

• =ile 47traction Reports

• 0ithdra'al!"urchase Report

• *alance en6uiry Report

•

uloading-time-management.pdf.pdf

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