- Today’s businesses need agile, scalable, and efficient end-to-end reconciliation systems saving organizations’ precious time and effort.
- Reconciliation solutions available today barely fulfil the demand for a multi-industry, multi-tenant architecture to fill the gap of a scalable and efficient automated solution.
- Organizations generally rely on manual or semi-automated and legacy solutions which are labor intensive, cumbersome and exposes them to higher operational risks. These systems are costly, inefficient, and not flexible to adopt to new regulatory and business needs.
- Available tools consume excessive time due to high frequency of operational and data collection breaks. These normally happen owing to wrong account mappings, human errors, and manual adjustments.
|
- There is a strong need for next generation digital channel reconciliation system that caters to variety of current, emerging and future payment needs with efficiency and scalability to address multiple time zones due to global digitization.
- Capability to address emerging payment frauds and compliance risks. Frequently changing regulatory requirements are causing a burden on the operational teams.
- Unstructured data from varying sources is difficult to work with.
- Inability to swiftly integrate system or use of obsolete information exchange methods.
|