Blog

ReconArt, a market leader in data reconciliation technology and financial close management, and 3i Infotech, a global IT company driving digital transformation initiatives on 4 continents, are delighted to announce their partnership agreement. ReconArt and 3i Infotech join forces ...

A special ReconArt feature first published on Bobsguide – the ultimate fintech resource, an innovative online platform that connects the providers of fintech solutions with the financial services professionals who need them. Read the article here as well. It’s the most wonderful ...

A special ReconArt feature first published on Bobsguide – the ultimate fintech resource, an innovative online platform that connects the providers of fintech solutions with the financial services professionals who need them. Read the article here as well. The rush for data insights ...

A special ReconArt feature first published on Bobsguide - the ultimate fintech resource, an innovative online platform that connects the providers of fintech solutions with the financial services professionals who need them.  Read the article here as well. As the pandemic spread, ...

Digital transformation for banks is crucial to retain customers and achieve loyalty in a highly competitive market bustling with new players and features. Ideally, this would mean that every single step of the customer journey from opening a bank account to day-to-day operations, ...

A genuine reconciliation tool is not about a pretty face, but all about a mighty heart. The reconciliation space is burgeoning and overcrowded these days. Software solutions promising miracles are just round the corner. But a closer look reveals that few offerings include a robust ...

Introduction. Digital Transformation and Financial Data. When it comes to financial data streams, paper as a medium has irreversibly lost the battle with e-formats decades ago. “Digital” does not mean only paperless, but above all being able to structure and analyze the heaps of scattered ...

Traveling the globe in 80 days might have been a miraculous achievement in the 19th century, but in today‘s hectic world anyone who can spare two or three weeks on the road can do it without breaking the bank.  No need to be a brave male adventurer on a dangerous mission. ...

Government entities often are among the largest organizations in terms of assets managed and cash turnover. They oversee public funds and are responsible for their gathering, safekeeping, redistribution, and investment. Apart from the sheer magnitude of financial management efforts ...

Reconciliation finds its place in any and every accounting practice, but for some business models it has become a central issue. Transactional industries stand out as the most obvious example, where huge volumes and speed of exchange operations are typical characteristics on top ...

We are delighted to announce that ReconArt Inc. and Valuement Group srl have established a reseller relationship. The two companies have joined forces with the primary objective to elevate client experience. The added value of the partnership program is aimed at client process ...

We are delighted to announce the launch of ReconArt’s new website! We have placed more focus on our core values, way of work, and added value for our client community. With refreshed design, navigation and content updates, we have also enhanced the user experience, making it as easy ...

Industry Overview Payment services and their evolving online and mobile cash transfer channels have emerged as a flourishing industry. People across borders connect and engage in trade exchange with increased convenience. The payment platforms facilitate B2B, C2B and increasingly ...

“He’s making a list, he’s checking it twice. He’s gonna find out who’s been naughty or nice…”   Christmas is coming again – a busy period for Santa Claus. Have you ever considered the enormous effort Santa is facing here? And we are not just talking about moving around with ...

In a world of infinitely deepening specialization, terminology develops in pace with evolution of technologies and inevitably requires special attention. One needs to familiarize himself with the modern industry slang first, in order to get a meaningful insight into the professional ...

Spreadsheets are no doubt a great solution for data analysis and intermittent calculations, but their use as a long-term reconciliation solution proves unsustainable. Recent studies suggest that Excel is still the most popular reconciliation tool for roughly 70% of the world’s financial ...

ReconArt is a single-solution technology company providing a modern, enterprise-class, fully web-based reconciliation platform to a diverse, global client base of all industries and sizes. Our firm is headquartered in the United States just outside of Washington DC and also has offices ...

The way payments are made nowadays is radically changing. People are using all kinds of devices (e.g. via smartphones and tablets) to shop, pay the rent, book a trip or make any other types of transactions. Thousands of companies are competing and cooperating at the same time to enable ...

As designers of a world-class enterprise system, ReconArt has always had significant focus on application security. We have purposefully integrated enterprise security best practices in the application to keep access and data secured, while simultaneously keeping configuration and ...

Employee expense management is better than ever, but full control over the process requires reconciliation, too. Employee expenses, or the costs related with tasks performed by an employee for an employer, are nothing new in the business world. These common expenses are employee-generated ...

Self-sufficiency, the ability to supply one’s own needs without external assistance, is essential for any business team which strives to maintain control of its operations, without being overly dependent on external parties. This is especially true for businesses that have to process ...

Although it has been touted for many years as a pending revolution in how IT and business services are delivered, only recently has “the cloud” been embraced broadly as part of business strategy. Initially, adoption of Software-as-a-Service (SaaS) was focused on front office functions ...

ReconArt is a sophisticated Reconciliation Automation Tool which can bring cost and time savings, reduced financial risk, and efficiency into the accounting & reporting functions of your company. The benefits at a glance: ...

In my last blog post, I noted that many organizations are choosing to invest in their system solution portfolios. I outlined some rules to help guide you to a "modern" solution that has a very strong upside into the future. Often these projects are part of a broader program aimed ...

Introducing ReconArt to a prospective client for the first time is always an exciting experience. No matter whether we are talking to a multi-billion dollar bank considering hundreds of users to accommodate highly complex processes, or a startup looking for a couple of users to handle ...

A detailed knowledge of reconciliation processes in banks and financial institutions (FIs) is a core competency at ReconArt, yet it never ceases to amaze us how every client’s focus is on a different process with a distinct set of challenges. We are fortunate to have worked with a ...

The United Kingdom’s Financial Conduct Authority (FCA) regulation PS14/9 related to custody assets and client money has a backstop for implementation of 1 June 2015. Compliance with the rules in the client assets sourcebook (CASS) has never been more important. There is now considerable ...

You know there are problems with your current manual reconciliation process. It’s not efficient – there are way too many people ‘ticking and tying’ when they could be doing so much more. It’s open to risk and difficult to report on – unstandardized. Jack notes an exception in one ...

Far reaching new rules introduced by the United Kingdom’s Financial Conduct Authority (FCA) with respect to customers’ monies and assets have been encompassed under policy statement 14/9 (http://www.fca.org.uk/static/documents/policy-statements/ps14-09.pdf). These rules represent ...

Risk Mitigation Techniques such as Portfolio Reconciliation for uncleared trades must be applied by firms as described in article 13 of the EMIR regulation. Depending your exact business this can be an easy exercise or a real burden. When you are a non-financial counterparty with ...

Software solutions dealing with account reconciliation have been around since the 1960s.  Originally developed on mainframes, they were designed to automate the ‘ticking and tying’ of transactions to ensure that they matched.   To some extent they replaced human resources, ...

Microsoft Excel remains the most widely used reconciliation platform today, but at what cost?  It’s perfect for small businesses or quick fixes: cheap, easy, and flexible.  But what happens when your needs grow in terms of frequency, volumes and scope?  More and more ...

I recently penned a blog about how we have helped a number of clients recently with their accounts receivable cash allocation using the ReconArt™ Total Reconciliation Lifecycle™ solution.  Soon after it posted, I woke up one morning realizing that the same was true for merchant ...

Why it makes sense to deploy new technology now Now has never been a better time to review how technology can assist in the multitude of reconciliation practices that necessarily exist across multiple business lines and functions.  Many of us have recently closed the 2011 books, ...

It has been a little over a year now since ReconArt brought to market its exciting new Total Reconciliation Lifecycle™ solution.  From the very first day that design and development started three years earlier in 2008, a primary goal was to offer a solution that could either ...